Omaha, Neb.-based energy provider Tenaska has closed approximately $302 million in commercial financing for the Tenaska Clear Creek Energy Center, a 242 MW wind project under construction in Missouri.
Located in Nodaway County in northwest Missouri, the facility will comprise 111 wind turbines from Vestas, which will also provide maintenance services. Mortenson is the engineering, procurement and construction contractor.
Since its founding in 1987, Tenaska has raised approximately $16.7 billion in capital through bank facilities, capital market transactions, corporate facilities and equity, supporting the development of approximately 10,300 MW of natural gas and renewable power projects. Tenaska Clear Creek is the 18th generating project the company has developed.
BNP Paribas, CoBank, Credit Agricole, Helaba and KeyBank are providing debt financing for the new wind farm.
“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,” says Jay Frisbie, Tenaska’s senior vice president of finance.
When completed, Tenaska Clear Creek will deliver power under a 25-year power purchase agreement with Associated Electric Cooperative Inc., an electric generation and transmission cooperative based in Springfield, Mo., that provides wholesale power to six regional cooperatives, including NW Electric Power Cooperative Inc. of Cameron, Mo., and 51 local cooperative systems in Missouri, southeast Iowa and northeast Oklahoma.