Tenaska, an independent power producer, has obtained financial close on its 150MW Imperial Solar Energy Center West project in California.
The company has won US$450 million in economical financing for the project, the second utility-scale PV power plant it is establishing in the region. The consortium of investors in the project will be led by Mitsubishi UFJ Financial Group, BNP Paribas, Royal Bank of Canada, Santander Bank, Helaba and DZ Bank.
Greg Kelly, Tenaska president, commented Achieving financial closing for our second utility-scale solar project represents a significant milestone for Tenaska. The project is moving forward on schedule development, and we re looking forward to starting construction."
Tenaska stated after securing the finance that it aimed to start construction on the project later this year, with the commencing of economical operation expected in November 2016.
First Solar, US PV energy provider, will provide its thin-film modules for the plant. It will serve as the main engineering, procurement and construction contractor, as it was for Tenaska s 130MW Imperial South project completed last year. Imperial West s electricity will be depleted to utility San Diego Gas & Electric (SDG&E) under a 25-year power purchase agreement.
A branch of Tenaska established Tenaska Imperial West and before that Tenaska Imperial Solar Energy Center South, a 130MW, utility-scale solar plant also near El Centro in Southern California s Imperial Valley. Tenaska Imperial South started commercial operation 1 November, 2013.
Later in 2014, Tenaska targets to commence construction on Tenaska Imperial West. The commercial operation scheduled in 2016.