Tenaska sells stake in two wind projects in USA totaling 492MW
Bright Canyon has acquired ownership interests in two Tenaska-developed wind projects in USA. The transaction includes the purchase of indirect minority interests in Tenaska Clear Creek Wind, LLC, owner of 242 MW Tenaska Clear Creek Energy Center in Missouri, and Nobles 2 Power Partners, owner of the 250 MW Nobles 2 wind farm in Minnesota. Both projects are under construction and anticipated to be fully operational in 2020.
"We have found a strong partner for these valuable wind assets in Bright Canyon," said Dave Kirkwood, Tenaska senior vice president of finance. "These projects are well positioned having long-term power purchase agreements, and we are pleased to have Bright Canyon on board as we approach completion of construction."
"We are very pleased to invest in two high-quality wind farms that will serve customers in the Midwest with clean energy and to do so with a first-class partner in Tenaska. These projects also provide an opportunity to gain experience in the construction, ownership and operation of large-scale wind operations and support our strategy focused on a clean energy future," said Jim Hatfield, Pinnacle West executive vice president and chief financial officer. Bright Canyon is a subsidiary of Pinnacle West.
Bright Canyon now indirectly owns 9.9% interest in Tenaska Clear Creek Wind, LLC and 5.1% interest in Nobles 2 Power Partners, LLC.
The 242 megawatt (MW) Tenaska Clear Creek wind farm in Nodaway County in northwest Missouri is nearing completion. Construction of the project started in spring 2019. The wind farm is expected to achieve commercial operation in the first quarter of 2020. When complete, Tenaska Clear Creek will provide renewable power for Associated Electric Cooperative, Inc.
Construction of the 250 MW Nobles 2 wind farm, located in Nobles County, Minnesota, began in August 2019. The commencement of commercial operation is anticipated in 2020. When complete, the wind farm will deliver power under a 20-year power purchase agreement to Minnesota Power, a utility division of ALLETE.
