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09 July 2009-- A real estate and energy investment firm helped to close on a deal for a $1.5 billion, 1000 MW natural gas power plant in New York City.

JEMB Realty helped to finance and close on the Astoria Energy II facility, the second phase of the Astoria Energy plant. Astoria will construct, own and operate a new 550 MW plant, doubling the size of the current facility.

Astoria Energy II will sell power to the New York Power Authority starting in 2011 under a 20-year tolling agreement.

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