Global Infrastructure Partners (GIP), together with its co-investors, announced that it has made a senior secured term loan investment of $175 million in Group Energy Gas Panama S de RL, to finance the acquisition and construction of Generadora de Gatun (Gatun), the owner of a 670-megawatt natural gas cogeneration power plant to be constructed in Colon, Panama. Once constructed, Gatun is expected to be the largest and most efficient combined cycle gas turbine (CCGT) power plant in the country. Gatun is designed to improve electric reliability by diversifying electricity sources for the nation’s power grid.
GIP is making the investment through Global Infrastructure Partners Capital Solutions Fund II (GIP CAPS II), part of GIP’s Credit platform (GIP Credit). The investment in Gatun represents the third commitment made by GIP CAPS II. The CAPS strategy provides customized credit financings for infrastructure issuers in GIP’s core sectors of midstream en