Tenaska closes $302m financing for 242MW wind project

WCN Editorial Team 22 Apr 2019 NORTH AMERICA ENERGY & UTILITIES

Independent energy provider Tenaska has closed approximately $302m in financing for the 242MW wind project which is under construction in Nodaway County in northwest Missouri, US.

The commercial financing for the project, Tenaska Clear Creek Energy Center, was provided through debt from BNP Paribas, CoBank, Credit Agricole, Helaba and KeyBank.

Located near Maryville in Nodaway County, the wind project is planned to be commissioned later this year, and will feature 111 Vestas-built wind turbines with capacity to produce 2MW to 3MW each.

Denmark-based Vestas will also provide maintenance services for the project, which is estimated to cost in range between $200m and $300m.

Power generated from the wind farm will be sold to electric generation and transmission cooperative, Associated Electric Cooperative, under a 25-year power purchase agreement signed earlier.

Associated Electric Cooperative provides wholesale power to six regional cooperatives, including NW Electric Power Cooperative of Missouri, and 51 local cooperative systems in Missouri, southeast Iowa and northeast Oklahoma.

Mortenson is the engineering, procurement and construction (EPC) contractor for the wind project, which will utilize the existing transmission interconnections of Associated Electric.

Tenaska engineering and construction senior vice-president Nick Borman sai: “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."

In addition to creating more than 200 construction jobs and up to 15 full-time jobs when operational, the Tenaska Clear Creek project benefit the local economy through the sale and purchase of goods and services.

Moreover, the wind farm is expected to generate more than $1.2m in annual tax revenues for local government and $1.2m income for landowners in the form of lease payments.

Borman earlier said: “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.”

Tenaska currently operates 8GW of natural gas-fueled and renewable power plants.

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Image: A wind turbine. Photo: Image by tookapic from Pixabay.

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