Coso Geothermal Power Holdings, LLC Secures Extension of Expiring Letter of Credit Facilities (MarketWatch - Press Release)
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| Coso Junction |
Coso Geothermal Power Holdings, LLC today announced that the company's letter of credit provider, CoBank ACB, has agreed to extend approximately $55 million of letter of credit facilities that were scheduled to expire later this month. The agreement provides a two year extension to the letter of credit facilities, now scheduled to expire in November of 2014.
These facilities consist of a $40 million letter of credit provided to support a debt service reserve as well as an approximately $15 million letter of credit to support security obligations under the project's power purchase agreements with Southern California Edison.
Coso Geothermal Power Holdings, LLC leases and operates three interlinked geothermal power plants located in Inyo County, CA, with installed nameplate capacity of 302 MWe.
