Financing Secured for 1.2 GW CCGT in Lee County, Texas

Macquarie Asset Management announced it has provided a $450 million USD bilateral facility to Sandow Lakes Energy Station (“SLES”), supporting the construction of a 1.2 GW combined cycle gas turbine (“CCGT”) asset in Lee County, Texas. This financing solution enables the borrower to secure essential long-lead time equipment, including two Siemens SGT6-9000HL gas turbines, advancing the development of a new power project designed to supply electricity to energy-intensive infrastructure.

The exponential expansion of digital infrastructure in turn has resulted in the need for additional energy generation. As the power and transmission grids strive to maintain sufficient capacity and balance intermittent generation, demand for CCGT equipment has surged, with the timeline and delivery queue for new orders extending into the 2030s.