Banks Back Power Plant

Edison Mission Energy Co. announced Wednesday that its Italian utility joint venture has won financing of up to $1.2 billion from a consortium of banks for construction of a 512-megawatt power plant near Siracusa in Sicily, Italy.

Edison Mission, a subsidiary of Edison International, owns 49% of the project. The rest is owned by an Italian refinery operator and its affiliate. Edison Mission, a sister company of Southern California Edison Co., specializes in developing, building and managing power production facilities.