Tenaska Secures Debt Financing for Missouri Renewable Energy Project

Wed May 01, 2019 - Midwest Edition #9
Power Technology


Vestas is providing wind turbines and maintenance services for the Tenaska Clear Creek energy project in Missouri.
(Vestas photo)
Vestas is providing wind turbines and maintenance services for the Tenaska Clear Creek energy project in Missouri. (Vestas photo)

Tenaska has received commercial financing of $302 million to support its Clear Creek Energy Center being constructed in Nodaway County, Mo.

Danish wind energy company Vestas is providing 111 wind turbines and maintenance services for the 242 mW 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 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 Tenaska Engineering and Construction Senior Vice President Nick Borman.

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

A 25-year power purchase agreement 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 $16.7 billion so far for the development of approximately 10,300 mW 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 8,000 mW.