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LS Power Gets Prudential, Santander Funding for California Solar

LS Power Group, a closely held power-generation and transmission company, received financing for its 170-megawatt Centinela solar farm in southern California.

Banco Santander SA’s Sovereign Bank led a group of lenders that included Bank of Tokyo-Mitsubishi UFJ Ltd.’s Union Bank, Rabobank Nederland, Canadian Imperial Bank of Commerce and Norddeutsche Landesbank, LS Power said today in a statement.

Prudential Capital Group LP also provided “long-term notes,” John King, executive vice president of New York-based LS Power, said today by e-mail.

The plant in El Centro is expected to be operational in 2014 and will sell its output to Sempra Energy utility San Diego Gas & Electric for 20 years. Fluor Corp. is building the project.

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