Daily News: June 16, 2014

Santander, Others Lead Tenaska $450MM Solar Financing

Independent energy provider Tenaska closed $450 million in commercial financing for Tenaska Imperial Solar Energy Center West, a 150-megawatt (MW) photovoltaic solar electric generating plant near El Centro, California, and Tenaska’s second utility-scale project in the region.

Tenaska said Mitsubishi UFJ Financial Group, BNP Paribas, Royal Bank of Canada, Santander Bank, Helaba and DZ Bank led the bank group.

Tenaska Imperial West will be the 17th power generation project Tenaska has developed, financed and constructed, and its second solar facility.

The company has approximately 5,000 MW of natural gas-fueled and renewable projects in pre-financing development, including more than 250 MW of solar power in Imperial County, CA, and the 800-MW, natural gas-fueled Tenaska Brownsville Generating Station in Texas expected to begin commercial operation in 2017.

Omaha, NE-based Tenaska has raised more than $13 billion in capital through bank facilities, capital market transactions, corporate facilities and equity, supporting approximately 9,000 MW of U.S. projects.