Tenaska secures funding to support Clear Creek Energy project

23 April 2019 (Last Updated April 23rd, 2019 10:42)

Tenaska has received a commercial financing of $302m to support its Clear Creek Energy Center being constructed at Nodaway County in Missouri, US.

Tenaska secures funding to support Clear Creek Energy project
Vestas is providing wind turbines and maintenance services for the Tenaska Clear Creek project. Credit: Vestas Wind Systems A/S.

Tenaska has received commercial financing of $302m to support its Clear Creek Energy Center being constructed at Nodaway County in Missouri, US.

Danish wind energy company Vestas is providing 111 wind turbines and maintenance services for the 242MW Tenaska Clear Creek wind-power electric generation project. Mortenson has been contracted for engineering, procurement and construction activities.

Debt financing for the wind project is being offered by BNP Paribas, CoBank, Credit Agricole, Helaba and KeyBank.

“The Tenaska project is expected to create more than 200 jobs at peak construction stage and around 15 full-time employment opportunities after operations have commenced.”

Tenaska engineering and construction senior vice-president Nick Borman 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.”

The company expects to begin commercial operations by the end of this year.

A 25-year power purchase agreement (PPA) will see the supply of power to Associated Electric Cooperative, which caters to six regional cooperatives and 51 local cooperative systems in Missouri, southeast Iowa and northeast Oklahoma.

The Tenaska project is expected to create more than 200 jobs at peak construction stage and around 15 full-time employment opportunities after operations have commenced.

Tenaska has raised around $16.7bn so far for the development of approximately 10,300MW natural gas and renewable power projects. Tenaska Clear Creek is the company’s 18th generating project.

The company currently operates 11 natural gas and renewable power plants that generate a total of about 8,000MW.