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Transaction Update: Brooklyn Navy Yard Cogeneration Partners L.P. Dec 11
Standard & Poors, December 2011
Brooklyn Navy Yard Cogeneration Partners L.P. (BNYCP) is a 220 megawatt (MW) to 300 MW gas- and oil-fired cogeneration facility in Brooklyn, N.Y., that can produce up to 1 million pounds of steam per hour. It has a 40-year power and steam purchase agreement (energy sales agreement) with Consolidated Edison Co. of New York Inc. (A-/Stable/A-2) that expires in 2036. The plant began operations in November 1996. The New York City Industrial Development Agency (NYCIDA) issued the project's $307 million 1997 tax-exempt industrial development term bonds maturing 2022-2036 ($307 million outstanding) and $100 million 7.42% amortizing 1997 taxable senior secured bonds maturing in 2020 (about $50 million outstanding). The parity but unrated $31.7 million 7.74% taxable senior secured bonds issued...
Companies mentioned in this report are: Brooklyn Navy Yard Cogeneration Partners L.P.
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Brooklyn Navy Yard Cogeneration Partners L.P.