NTE Energy nabs funding from Capital Dynamics and Wattage Finance

NTE Energy has secured an undisclosed investment from Capital Dynamics and Wattage Finance, which is backed by an affiliate of Guggenheim Partners. Whitehall Capital Markets was financial advisor on the transaction. According to the firm, the funding will be used for three natural gas power plants under development. NTE Energy is a power developer and energy services provider.

PRESS RELEASE

ST. AUGUSTINE, Fla. – NTE Energy, a power developer and energy services provider, has secured an investment for its three natural gas-fired power plants that are currently under development. This investment will allow NTE Energy to complete the development of these projects, valued at over $1.1 billion, and begin construction of all three projects next year.

Capital Dynamics and Wattage Finance, LLC, which is owned by a group of private investors and managed by an affiliate of Guggenheim Partners, LLC, will work with NTE Energy to finalize the development and prepare the three projects for construction financing. Projects include Middletown Energy Center, a 518 MW combined cycle power plant in Ohio, Kings Mountain Energy Center, a 475 MW combined cycle power plant in North Carolina, and Pecan Creek Energy Center, a 237 MW simple cycle power plant in Texas. Whitehall Capital Markets, LLC, a FINRA-registered broker dealer and wholly-owned subsidiary of Whitehall & Company, LLC, served as the financial advisor for the project equity financing.

Seth Shortlidge, CEO of NTE Energy said, “As we take this next important step in the development of these projects, we are proud to work with industry leaders, Guggenheim Partners and Capital Dynamics. The depth and talent at both Guggenheim Partners and Capital Dynamics only strengthens NTE Energy’s ability to bring clean, reliable and efficient power to the market.”

NTE Energy’s three power projects are in the late stages of development and are expected to close financing
and go into construction in the next nine to twelve months.

John Breckenridge, Managing Director of Capital Dynamics said, “We are very pleased to work with NTE Energy and Guggenheim Partners on the development of these natural gas-fired power generation facilities and look forward to a successful long term partnership as we continue to actively diversify our portfolio of clean energy projects.”

About NTE Energy
NTE Energy develops and acquires strategically located electric generation and transmission facilities within North America. The team executes all aspects of project development, from initial market and site evaluations and permitting to financing, construction and operation. NTE Energy is actively developing three projects located in West Texas, Southwest Ohio, and North Carolina as well as pursuing early-stage opportunities in several other locations. For more information about NTE Energy, visit www.nteenergy.com.

About Guggenheim Partners
Guggenheim Partners is a privately held global investment and advisory firm with more than $210 billion in assets under management. The firm provides asset management, investment banking and capital markets services, insurance services, institutional finance and investment advisory solutions to institutions, governments and agencies, corporations, investment advisors, family offices and individuals. Guggenheim Partners is headquartered in New York and Chicago and serves clients around the world from more than 25 offices in eight countries. For more information about Guggenheim Partners, visit www.guggenheimpartners.com.

About Capital Dynamics
Capital Dynamics is an independent, global asset manager, investing in private equity and clean energy infrastructure. A client-focused firm, Capital Dynamics tailors solutions to meet investor requirements and manages investments through a broad range of products and opportunities including separate account solutions, investment funds and structured private equity products. Capital Dynamics currently has USD 19 billion in assets under management/advisement.

The firm’s investment history dates back to 1988 and its senior investment professionals average over 20 years of investing experience across the private equity spectrum. Capital Dynamics believes its experience and culture of innovation give it superior insight and help it to deliver returns for its clients. Capital Dynamics invests locally while operating globally from offices in London, New York, Zug, Beijing*, Tokyo, Hong Kong, Silicon Valley, Sao Paulo, Munich, Birmingham, Seoul, Brisbane, Shanghai* and Scottsdale.

Capital Dynamics comprises Capital Dynamics Holding AG and its affiliates; assets under management/advisement, as of March 31, 2014, include assets under discretionary management, advisement (non-discretionary), and administration across all Capital Dynamics affiliates. Investments are primarily on behalf of funds managed by Capital Dynamics. 2Average years of experience held by Capital Dynamics’ 20 most-senior investment professionals. * Capital Dynamics China is a legally separate company operating under a strategic cooperation with Capital Dynamics.

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