Tenaska closes $450m in financing for 150MW solar facility in US

15 June 2014 (Last Updated June 15th, 2014 18:30)

Independent energy provider Tenaska has closed $450m in commercial financing for the 150MW AC Tenaska Imperial Solar Energy Center West project near El Centro, California, US.

solar PV plant

Independent energy provider Tenaska has closed $450m in commercial financing for the 150MW AC Tenaska Imperial Solar Energy Center West project near El Centro, California, US.

Scheduled to commence construction in 2014 and commercial operation in 2016, the photovoltaic solar electric generating plant is Tenaska's second utility-scale project in the region.

Located on approximately 1,100 acres of previously disturbed land in Imperial County, the project is the second solar project in Southern California's Imperial Valley developed, owned and managed by Tenaska.

Tenaska vice-president and treasurer David Kirkwood said Tenaska is leveraging its experience developing natural gas-fueled power plants for solar electric generation.

"Tenaska Imperial Solar Energy Center West's oversubscription and successful financing demonstrate the strength of the project," Kirkwood said.

"Tenaska is leveraging its experience developing natural gas-fueled power plants for solar electric generation."

Tenaska president of development, Greg Kelly, said the project is moving forward as planned.

"Achieving financial closing for our second utility-scale solar project represents a significant milestone for Tenaska," Kelly said.

The Tenaska Imperial West will provide clean, renewable energy to San Diego Gas & Electric Company (SDG&E), as part of a 25-year power purchase agreement signed, through SDG&E's Sunrise Powerlink transmission line.

Tenaska also selected First Solar as the engineering, procurement and construction (EPC) contractor for Tenaska Imperial West.

A majority of interest in the project is owned by an affiliate of Tenaska is the majority owner of Tenaska Imperial West while minority interest is held by an affiliate of Silver Ridge Power.


Image: First Solar to construct 150MW solar facility in Southern California. Photo: courtesy of worradmu/Freedigitaphotos.net.

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