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News Jun 23, 2014

Shearman & Sterling Advises Arrangers on Financing for Newark Energy Center

Shearman & Sterling advised Mitsubishi UFJ Financial Group, GE unit, GE Energy Financial Services, and Crédit Agricole Corporate and Investment Bank as coordinating lead arrangers in connection with the $590 million financing related to the Newark Energy Center, a 705 MW natural gas fired combined cycle power plant located in Newark, NJ. The project sits on a 23-acre brownfield site which is adjacent to the Hess Newark petroleum storage terminal.

The Shearman & Sterling team includes partner Robert Freedman (New York-Project Development & Finance); counsel Jason Pratt (New York-Environmental); and associates Usman Ahmad (New York-Project Development & Finance), Emeka Chinwuba (New York-Project Development & Finance), Caitlyn Gale (New York-Investment Funds), Ted Lamm (New York-Corporate) and Leah Trzcinski (New York-Corporate).