Nevada Cogeneration Associates No. 1 and Nevada Cogeneration Associates No. 2, partnerships between subsidiaries of Bonneville Pacific Corp., 257 E. 200 South, and Texaco Inc., have completed construction and term financing agreements for two cogeneration power facilities near Las Vegas.
The 85-megawatt Garnet Valley and Black Mountain projects will sell electric power to Nevada Power Co.The financing agreements provide for construction and term financing of about $112 million for Garnet Valley and $113 million for Black Mountain. The New York Branch of the Swiss Bank Corp. and the Bank of California are co-agents for the financings.
Bonneville Pacific officials said the Garnet Valley project, which is scheduled to be operational by mid-1992, will sell thermal energy under a long-term contract to Georgia-Pacific Corp.'s gypsum wallboard production plant adjacent to the cogeneration facility.
The Black Mountain project is located next to a Pacific Coast Building Products Inc. gypsum wallboard production plant. It is expected to be operational in late 1992 and will sell thermal energy to the wallboard company under a long-term contract.