The transaction comprises 24 solar projects located in the Midcontinent Independent System Operator (MISO) and Southeast Reliability Council (SERC) markets, totaling 4,800MW
Capital Dynamics, an independent global private asset management firm, has announced that its Clean Energy Infrastructure business has signed an agreement with Tenaska to enter into a new strategic relationship, increasing its greenfield solar footprint in both the Midwest and Southeast United States.
The transaction comprises 24 solar projects located in the Midcontinent Independent System Operator (MISO) and Southeast Reliability Council (SERC) markets, totaling 4,800 megawatts (MW). The portfolio represents a large share of solar projects currently in the MISO and SERC interconnection pipelines and further diversifies Capital Dynamics’ growing utility-scale solar power portfolio across seven new states.
“We are pleased to enter into a new relationship with Tenaska in MISO and SERC, less than two years after our first MISO transaction,” said Benoit Allehaut, Managing Director in Capital Dynamics’ Clean Energy Infrastructure business. “The Tenaska team has done an excellent job overseeing a large portfolio of solar projects in attractive markets, and has worked well with our team in the past. We believe it is important to deliver competitive solar projects in regions where customers are switching to renewables.”
Tenaska – through Tenaska Solar Ventures, the company’s solar development services business – will work with Capital Dynamics to commercialize the projects. “Tenaska has a record of success in renewables, and we are pleased that Capital Dynamics continues to recognize our team’s capabilities and sees the value we bring,” said Steve Johnson, senior vice president in Tenaska’s Strategic Development & Acquisition Group. “This transaction further strengthens the relationship between our two companies.”
Tenaska, one of the leading independent power producers in the United States, has developed approximately 10,500 MW of natural gas-fired and renewables power projects, including two utility-scale solar projects in Southern California in which Capital Dynamics is an investor. The Omaha, Nebraska-based company has a robust renewables program that includes advanced and mid-stage projects across the country.
Source: Company Press Release