Renewables, Wind

Tenaska raises $302M financing for Missouri wind farm

Independent energy provider Tenaska closed approximately $302 million in commercial financing for Tenaska Clear Creek Energy Center, a 242-MW wind project now under construction in Nodaway County in northwest Missouri.

“We are pleased that lenders recognize the strength of the Tenaska Clear Creek project, and we look forward to the wind farm becoming operational later this year,” said Jay Frisbie, Tenaska senior vice president of finance.

BNP Paribas, CoBank, Credit Agricole, Helaba and KeyBank are providing the debt financing for the project.

Construction of Tenaska Clear Creek is under way. Vestas is supplying 111 wind turbines and will provide maintenance services for the project. Mortenson is the engineering, procurement and construction (EPC) contractor. Mortenson has installed more than 22,000 MW of wind energy and 11,676 wind turbines and has built 167 wind projects in 30 states and providences across the United States and Canada.

“The advanced technology and quality of Vestas wind turbines and Mortenson’s vast experience in wind farm construction, combined with Tenaska’s record of success in power plant development and operation, will help ensure that Tenaska Clear Creek is a safe and reliable generation facility,” said Nick Borman, Tenaska senior vice president of engineering and construction.

Commercial operation is anticipated in late 2019. When complete, Tenaska Clear Creek will deliver power under a 25-year power purchase agreement with Associated Electric Cooperative (AEC), Inc., an electric generation and transmission cooperative based in Springfield, Missouri.

AEC provides wholesale power to six regional cooperatives, including NW Electric Power Cooperative Inc. of Cameron, Missouri, and 51 local cooperative systems in Missouri, southeast Iowa and northeast Oklahoma that serve 910,000 members.

The current Tenaska operating fleet includes 11 natural gas-fueled and renewable power plants able to generate approximately 8,000 MW combined. This includes the natural gas-fueled Tenaska Westmoreland Generating Station in southwest Pennsylvania, which achieved commercial operation in December 2018.