ERG was retained by The Louisiana Energy and Power Authority (LEPA) to prepare an Annual Consulting Engineer’s Report for submission to LEPA’s Bond Trustee. The report covered the financial and operational performance of Rodemacher Unit No. 2 generating plant (RPS2). RPS2 is a 523 MW rated coal-fired conventional steam turbine cogenerating unit, of which LEPA owns a 20% share.
LEPA is a political subdivision of the State of Louisiana consisting of seventeen member municipalities which own and operate municipal electric systems. LEPA provides wholesale electric service to its members. LEPA’s outstanding bond issues related to LEPA’s acquisition, construction, operation, and capital improvements to RPS2 require the preparation of the Annual Consulting Engineer’s Report.
ERG’s Report to the Bond Trustee involves:
- Evaluating and reporting on LEPA and the Project’s Business Organization and Management
- Verifying that the LEPA and the Project are in compliance with certain requirements related to their bond covenants
- Evaluating and reporting on the Project’s property and operations
ERG employed its broad set of skills and professional experience in the areas of engineering, technical analysis, and finance to provide essential services required by LEPA and its member municipalities.