NTE Energy, a St. Augustine-based power developer and energy services provider, secured an investment of undisclosed amount.
Backers included Capital Dynamics and Wattage Finance, which is backed by an affiliate of Guggenheim Partners.
The company intends to use the funds for three natural gas power plants under development. Projects include Middletown Energy Center, a 518 MW combined cycle power plant in Ohio, Kings Mountain Energy Center, a 475 MW combined cycle power plant in North Carolina, and Pecan Creek Energy Center, a 237 MW simple cycle power plant in Texas.
Led by Seth Shortlidge, CEO, NTE Energy develops and acquires strategically located electric generation and transmission facilities within North America. The team executes all aspects of project development, from initial market and site evaluations and permitting to financing, construction and operation.