Energy provider secures wind project funding

Published on April 22, 2019 by Douglas Clark

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Independent energy provider Tenaska has secured approximately $302 million in commercial financing for a 242-megawatt (MW) wind project under construction in northwest Missouri’s Nodaway County.

“Tenaska has a reputation for strong power projects that meet the needs of our customers amid ever-changing market conditions,” Jay Frisbie, Tenaska senior vice president of finance, said. “We are pleased that lenders recognize the strength of the Tenaska Clear Creek project, and we look forward to the wind farm becoming operational later this year.”

Tenaska Clear Creek represents the firm’s 18th generating project, noting since it was founded in 1987 Tenaska has raised approximately $16.7 billion in capital through bank facilities, capital market transactions, corporate facilities, and equity, supporting the successful development of approximately 10,300 MW of natural gas-fueled and renewable power projects.

The scope of work, officials said, includes Vestas, a global manufacturer of wind turbines, supplying 111 wind turbines and will provide maintenance services for the project while Mortenson, a premier builder and provider of energy and engineering services, is the engineering, procurement and construction (EPC) contractor.

“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,” Nick Borman, Tenaska senior vice president of engineering and construction, said.

The project will create more than 200 jobs at peak construction and up to 15 full-time jobs when operational. Commercial operation is anticipated in late 2019.