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Article: DESTEC AND CONSOLIDATED NATURAL GAS ANNOUNCE FINANCING OF BEAR MOUNTAIN COGENERATION PROJECT
- Article from:
- PR Newswire
- Article date:
- January 12, 1995
CopyrightCOPYRIGHT 1995 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HOUSTON, Jan. 12 /PRNewswire/ -- Destec Energy, Inc. (NYSE: ENG), a leading independent power producer based in Houston, Texas, and Consolidated Natural Gas Company (CNG)(NYSE: CNG), of Pittsburgh, Pa., announced today that financing has been arranged for the 46 megawatt Bear Mountain cogeneration project near Bakersfield, Calif. Union Bank is the underwriter and agent for the project financing of approximately $57 million.
The natural gas-fueled Bear Mountain project will sell electricity to Pacific Gas and Electric Company and steam to Shell Western E&P, Inc., an affiliate of Shell Oil Company, for use in enhanced oil recovery operations. The facility is expected ...