As reported by Moodys and Project Finance Magazine, the rating agency Moody’s has downgraded the $584 million in outstanding private debt to B1, based on lower than expected power generation.
For the year ended in September, according to news, the production was 26% below the 319.7 MW installed capacity. In earlier estimates the Terra-Gen anticipates Coso to reach a net capacity of 272 MW by 2011, more than original projections of 249MW.
Source: Project Finance Magazine, Fitch Rating release (January 2010)
