The transaction, which closed Dec. 20, 2019, includes the purchase of indirect minority interests in both Tenaska Clear Creek Wind, owner of Tenaska Clear Creek Energy Center in Missouri, and Nobles 2 Power Partners, owner of the 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, senior VP of finance at Tenaska. “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.”
The 242-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.
“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, executive VP and CFO of Pinnacle West. Bright Canyon is a subsidiary of Pinnacle West.
When complete, Tenaska Clear Creek will provide renewable power for Associated Electric Cooperative, an electric generation and transmission cooperative based in Springfield, Missouri, that provides wholesale power to six regional cooperatives, including NW Electric Power Cooperative of Cameron, Missouri, and 51 local cooperative systems in Missouri, Southeast Iowa and Northeast Oklahoma that serve 910,000 members.
Bright Canyon indirectly owns 9.9% interest in Tenaska Clear Creek Wind and 5.1% interest in Nobles 2 Power Partners.
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 PPA to Minnesota Power, a utility division of ALLETE.
Tenaska has successfully developed approximately 10,500 MW of natural gas-fueled and renewable power projects, including these two wind farms.
News item from Bright Canyon Energy