Nebraska-based energy provider Tenaska has closed nearly $302m in financing for its 242MW wind project in Nodaway County in northwest Missouri.
Tenaska secured the debt financing from BNP Paribas, CoBank, Credit Agricole, Helaba and KeyBank. The wind farm, Tenaska Clear Creek Energy Center, will be powered by 111 Vestas wind turbines. The company has selected Mortenson to provide engineering, procurement and construction (EPC) services for the project.
Tenaska engineering and construction senior vice president Nick Borman said: “The advanced technology and quality of Vestas wind turbines and Mortenson’s vast experience in wind farm construction, combined with Tenaska’s record of success in power plant development and operation, will help ensure that Tenaska Clear Creek is a safe and reliable generation facility.”
The wind farm is expected to commence commercial operations by the end of this year. Power generated from the project will be sold under a 25-year power purchase agreement to Associated Electric Cooperative, an electric generation and transmission cooperative in Missouri, which sells wholesale power to six regional cooperatives.
The construction phase of the wind farm is expected to generate about 200 jobs and the operational phase is expected to generate up to 15 jobs. Additionally, the local economy is also expected to benefit from the wind farm’s construction, through the sale and purchase of goods and services.
Furthermore, the wind farm is expected to generate more than $1.2m in annual tax revenues for local government and $1.2m income for landowners in the form of lease payments.
Last month, the company was selected by Empire District to build the North Fork Ridge and Kings Point wind farms in Joplin, Missouri. The two wind farms will have a combined capacity of 300MW and their construction is expected to begin this fall, pending final regulatory approval.
The North Fork Ridge and Kings Point wind farms will be located in portions of Barton, Dade, Jasper and Lawrence counties. They will be powered by about 140 turbines combined, with targeted operations in the latter part of next year.