ACCIONA Acquires 3,000-MW Solar PV Development Portfolio from Tenaska, Eyes Projects in Seven States
Agreement also includes 1,000 MW of Co-located Solar and Energy Storage in PJM and SPP Markets
ACCIONA, a global renewable energy and sustainable infrastructure company, today announced that it has signed an agreement with energy developer Tenaska to acquire a portfolio of greenfield photovoltaic (PV) solar and energy storage projects in the U.S. The development portfolio comprises approximately 3,000 megawatts (MW) of utility-scale solar and 1,000 MW of co-located solar and energy storage.
The transaction includes 20 solar projects in the PJM Interconnection and Southwest Power Pool (SPP) markets. The portfolio represents a large, diversified solar and storage development pipeline in seven states, including Pennsylvania, Ohio, Kentucky, Illinois, Missouri, Kansas and Oklahoma.
"This provides ACCIONA with an opportunity to build upon our investments in wind energy and increase our commitment to renewable energy and sustainability in the United States through solar PV and energy storage technology," said Rafael Esteban, CEO of ACCIONA's Energy Division in North America. "We will bring a significant portion of the portfolio into service between 2021 and 2023."
Tenaska - through Tenaska Solar Ventures, the company's solar development services business - will work with ACCIONA to complete development of the projects.
"We are excited to join forces with ACCIONA on this renewables portfolio, pairing Tenaska's extensive expertise in development with their origination and construction capabilities," said Steve Johnson, senior vice president and leader of Tenaska Solar Ventures. "This transaction highlights Tenaska's ability to monetize our team's knowledge and skill sets while operating under various development models."
ACCIONA envisions commissioning eight projects by the end of 2023, adding around 1,500 MW of peak capacity (some 1,200 MW rated capacity) to its North American renewable energy portfolio.
The agreement with Tenaska boosts ACCIONA's North American portfolio, which includes 1,245 MW of wind power installed and under construction. ACCIONA also owns and operates the 64 MW Nevada Solar One concentrated solar plant outside of Las Vegas.
The addition of a 1,000-MW energy storage development portfolio allows ACCIONA to offer cutting-edge technologies and services to these important U.S. markets. Analysts expect energy storage to experience exponential growth in the U.S. in coming years.
Globally, ACCIONA operates almost 10,000 MW of renewable capacity under its ownership spread across 16 countries and five continents.
Tenaska, one of the leading independent power producers in the United States, has developed approximately 10,500 MW of natural gas-fueled and renewables power projects. The Omaha, Nebraska-based company has a robust renewables program that includes solar and wind generation in various stages of development, construction and operation. Tenaska Solar Ventures provides development services to approximately 40 projects in 11 states, totaling roughly 6,000 MW of renewable solar capacity.
Tenaska, based in Omaha, Nebraska, is one of the leading independent energy companies in the United States. Forbes magazine consistently ranks Tenaska among the 50 largest private U.S. companies. Gross operating revenues were approximately $12 billion in 2018.
Tenaska has developed approximately 10,500 megawatts (MW) of natural gas-fueled and renewable power projects. Tenaska and its affiliates have managed the acquisition of approximately 10,750 MW of energy assets. The current Tenaska operating fleet includes 11 natural gas-fueled and renewable power plants able to generate approximately 8,000 MW combined.
Affiliate Tenaska Solar Ventures provides development services to approximately 40 projects in 11 states, totaling roughly 6,000 MW of renewable solar capacity.
Tenaska affiliates are industry leaders in natural gas and electric power marketing. Tenaska Marketing Ventures (TMV) is among the top five largest natural gas marketers in North America and is the top-ranked natural gas pipeline capacity trader. During 2018, TMV sold or managed 10.6 billion cubic feet (Bcf) of natural gas per day. Tenaska Power Services Co. is the leading provider of energy management services to generation and demand-side customers in the U.S., with more third party-owned generation under management than any other provider.
For more information, visit www.tenaska.com or follow the company on LinkedIn and Facebook.
ACCIONA is a global group that develops and manages sustainable infrastructure solutions, especially in renewable energy. Its business spans the entire value chain, from design and construction through to operation and maintenance. ACCIONA's goal is to lead the transition toward a low-carbon economy, bringing technical excellence and innovation to all of its projects to design a better planet. With a presence in more than 40 countries and sales of €7.510 billion in 2018, the company is committed to contributing to the economic and social development of the communities in which it operates.
In the field of energy, ACCIONA is a global operator in renewables with 30 years' experience in the sector and 9,851 megawatts (MW) under its ownership, spread across 16 countries on the five continents. It has 224 wind farms, 76 hydropower stations, 6 large photovoltaic plants, 3 biomass plants and a CSP plant. The company markets energy to large clients. www.acciona.com.