Capital Dynamics has announced its Clean Energy Infrastructure business has signed an agreement worth almost 5GW with Tenaska.
The transaction comprises 24 solar projects located in the Midcontinent Independent System Operator (MISO) and Southeast Reliability Council (SERC) markets, totalling 4.8GW.
The portfolio represents a large share of solar projects currently in the MISO and SERC interconnection pipelines.
It also further diversifies Capital Dynamics’ growing utility-scale solar power portfolio across seven new states, increasing its greenfield solar footprint in both the Midwest and Southeast United States.
Clean Energy Infrastructure managing director Benoit Allehaut said: “We are pleased to enter into a new relationship with Tenaska in MISO and SERC, less than two years after our first MISO transaction.
“The Tenaska team has done an excellent job overseeing a large portfolio of solar projects in attractive markets, and has worked well with our team in the past.
“We believe it is important to deliver competitive solar projects in regions where customers are switching to renewables.”
Tenaska has developed approximately 10.5GW of natural gas-fired and renewables power projects, including two utility-scale solar projects in Southern California in which Capital Dynamics is an investor.
“The Omaha, Nebraska-based company has a robust renewables program that includes advanced and mid-stage projects across the country.
Tenaska Solar Ventures, the company’s solar development services business, will work with Capital Dynamics to commercialise the projects.
Senior vice president in Tenaska’s strategic development & acquisition group Steve Johnson said: “Tenaska has a record of success in renewables, and we are pleased that Capital Dynamics continues to recognize our team’s capabilities and sees the value we bring.
“This transaction further strengthens the relationship between our two companies.”