Tenaska Solar Ventures Acquires 160-MW Solar Energy Project

Tenaska Solar Ventures LLC (TSV), an affiliate of Omaha-based Tenaska, today announced that it has acquired the Silverleaf photovoltaic solar project, a proposed 160-MW solar energy project under development in Southern California, from Agile Solar Holdings, an affiliate of Agile Energy LLC, and Bregal Energy, an affiliate of Agile Solar Holdings. The transaction closed on Aug. 1.

“Tenaska has 25 years of experience bringing energy projects to the finish line, across the nation and now in California,” said Steve Johnson, vice president of development. “This record and Agile Energy’s expertise create a strong, innovative team that will build on Tenaska’s solar energy development momentum. Together, we will help California electricity providers meet the state’s renewables portfolio standard.”

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Tenaska is one of the nation’s largest independent energy producers. Agile Energy, of San Bruno, Calif., is a developer of utility-scale power generating projects and will provide development services to TSV through the completion of project permitting. TSV will assume responsibility for all other development aspects of the project, including securing a power purchase agreement.

The project, to be named Tenaska Silverleaf Solar Energy Center, would be located on approximately 1,100 acres of agricultural land west of El Centro, Calif., and east of Tenaska Imperial Solar Energy Center West, a 150-MW solar generating facility also being developed by an affiliate of TSV.

Construction is slated to begin as early as 2014, with commercial operation targeted for as early as 2015. The project is expected to provide approximately 250 direct jobs during peak construction and two to six full-time positions after the plant begins operations.

“Agile Energy’s vision of developing a major solar generating station in the Imperial Valley will now be realized with the backing of Tenaska,” said Glen Davis, CEO of Agile Energy. “We’re excited to be working with one of the premier companies in our industry to bring Silverleaf into operation.”

TSV is one of America’s top five utility-scale solar developers, according to PV News, having successfully developed two solar energy centers in California’s Imperial Valley to date. Tenaska recently obtained commercial financing for and began construction of Tenaska Imperial Solar Energy Center South, a 130-MW photovoltaic solar generating plant near El Centro. The plant is one of the largest commercially financed solar projects in the U.S. to date. Commercial operation is expected in the second half of 2013. TSV has completed permitting for the Tenaska Imperial Solar Energy Center West. Commercial financing and construction is expected in early 2013, with commercial operation in 2015.

Tenaska has developed approximately 9,000 MW of electric generating capacity across the United States. Forbes magazine ranks Tenaska 25th among the largest privately-held U.S. companies, based on 2010 revenues.

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