Nebraska-based Tenaska has secured $450 million in commercial financing for its 150 MW Tenaska Imperial Solar Energy Center West photovoltaic solar electric generating plant near El Centro, Calif.
Mitsubishi UFJ Financial Group, BNP Paribas, Royal Bank of Canada, Santander Bank, Helaba and DZ Bank led the bank group. Riverside Risk Advisors assisted Tenaska in designing and executing its interest rate risk management program.
Tenaska plans to begin construction on Tenaska Imperial West later in the year, with commercial operation expected in 2016. First Solar Inc. is the engineering, procurement and construction (EPC) contractor for project, which will employ First Solar's thin-film modules on single-axis trackers.
Tenaska and First Solar also partnered on the 130 MW Tenaska Imperial Solar Energy Center South solar plant also near El Centro that began commercial operation in November 2013. First Solar operates Tenaska Imperial South under contract.
Like Tenaska Imperial South, Tenaska Imperial West will provide electricity to San Diego Gas & Electric Co. under a 25-year power purchase agreement via the Sunrise Powerlink transmission line.