Tenaska refinances debt for 150-MW solar park through green bond
First Solar-powered PV park in California. Author: U.S. Department of the Interior.
Sep 7 (Renewables Now ) - US energy company Tenaska said Wednesday it has issued USD 400 million (EUR 335.8m) in senior notes to refinance debt for Tenaska Imperial Solar Energy Center West, a 150-MW solar power plant in California.
The senior secured long-term notes were offered in a private placement and are designated as green bonds. Morgan Stanley & Co LLC, MUFG Securities America Inc and BNP Paribas Securities Corp were appointed as co-placement agents. The Bank of Tokyo-Mitsubishi UFJ Ltd and BNP Paribas (EPA:BNP) are providing letters-of-credit and working capital facilities.
The Tenaska Imperial Solar Energy Center West in southwest Imperial County has been operational since April 2016. Powered by 1.8 million First Solar panels, the facility generates electricity for about 55,000 local homes. It operates under a 25-year power purchase agreement (PPA) with San Diego Gas and Electric Co (SDG&E).
Tenaska also built the 130-MW Tenaska Imperial Solar Energy Center South that went online in 2013 .
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.