The two wind farms Tenaska Clear Creek Wind and Nobles 2 Power Partners could be completed this year
Bright Canyon Energy, a subsidiary of Pinnacle West Capital, has acquired stakes in two wind farms with 492MW of total generating capacity, from Tenaska.
As per the deal, Bright Canyon has acquired indirect minority stakes in both Tenaska Clear Creek Wind, the owner of the 242MW Tenaska Clear Creek Energy Center in Missouri and Nobles 2 Power Partners, the owner of 250MW Nobles 2 wind farm in Minnesota.
With the deal, Bright Canyon now indirectly owns a 9.9% stake in Tenaska Clear Creek Wind and a 5.1% stake in Nobles 2 Power Partners.
The two wind farms are under construction and are expected to fully operational in this year.
Pinnacle West executive vice president and chief financial officer Jim Hatfield said: “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.”
Details of the two wind farms, in which Bright Canyon has acquired stakes
The Tenaska Clear Creek wind farm is located in Nodaway County in northwest Missouri. Its construction began last spring and is nearing completion. The wind farm could begin operations in this year’s first quarter.
When operational, power from the wind project will be transmitted to Associated Electric Cooperative, a Missouri-based cooperative that provides wholesale power to six regional cooperatives such as NW Electric Power Cooperative.
The Nobles 2 wind farm is located in Nobles County, Minnesota, whose construction began last August. The wind farm is anticipated to begin operations this year.
When operational, the wind farm will supply the clean energy generated to Minnesota Power, a utility division of ALLETE, under a 20-year power purchase agreement (PPA).
Besides Bright Canyon and Tenaska, ALLETE also owns a stake in Nobles 2 Power Partners.
Tenaska finance senior vice president Dave Kirkwood said “We have found a strong partner for these valuable wind assets in Bright Canyon. 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.”