In total, the transaction includes 14 PV projects with approximately 2,000MW in the Midcontinent Independent System Operator (MISO) market. Image: Capital Dynamics
Independent global private asset management firm Capital Dynamics’ Clean Energy Infrastructure (CEI) business has signed off on a deal with Tenaska to develop a portfolio of greenfield PV projects in the Midwestern United States.
In total, the transaction includes 14 PV projects with approximately 2,000MW in the Midcontinent Independent System Operator (MISO) market. The portfolio includes all solar projects currently in the MISO North interconnection queue, with projects in Michigan, Missouri, Illinois, Wisconsin, Indiana and Minnesota.
Benoit Allehaut, director of Capital Dynamics' Clean Energy Infrastructure team, said: "This agreement was a unique opportunity for us to acquire a meaningful pipeline of solar capacity in an efficient project development structure within a market poised for growth. Tenaska has historically been one of the most successful developers of electric generation and a close partner of Capital Dynamics on several existing projects. We are excited to be expanding our partnership and offer clean energy power through long-term supply contracts to customers in the Midwest."
Capital Dynamics’ Clean Energy Infrastructure team is the second-largest owner of PV projects in the US and manages around US$4.9 billion in assets and 3.1GW in its current portfolio.
Steve Johnson, senior vice president in Tenaska's strategic development & acquisition group, added: "Tenaska has a proven record of success in solar development, and we are excited to pair our development skills with Capital Dynamics' capital origination and structuring capability.”
Following the successful launch of Energy Storage Summit USA, we are pleased to announce its return for a 2nd year. Renowned for its quality, breadth and expertise, this event features an all-encompassing range of strategic and technical sessions on the adoption and deployment of storage. Key market drivers such as the falling price of lithium-ion batteries, investment in electric vehicle infrastructure, FERC Order 841, government incentives, grid modernization, transition from dependency on the networks to a desire for autonomy and intermittent renewable sources, all add to an exciting time for the Energy Storage value chain.
Intersolar North America is the first major solar + energy storage event of the year that connects innovators and decision makers. With a dynamic exhibition floor and robust conference program, #isna2020 provides business-to-business professionals a platform to advance business, expand education, and drive networking. Immerse yourself in three days of best-in-class conference programming and special exhibits and pavilions that showcase the industry trends, innovative solutions, and emerging talent transforming the solar, energy storage, and e-mobility markets: Join us February 4-6, 2020 at the San Diego Convention Center in San Diego, California.