Spain-based Acciona, a global renewable energy and sustainable infrastructure company, has signed an agreement with Tenaska to acquire a large portfolio of greenfield solar PV and energy storage projects in the U.S.
The development portfolio comprises approximately 3 GW of utility-scale solar and 1 GW of co-located solar and energy storage.
The transaction includes 20 solar projects in the PJM Interconnection and Southwest Power Pool markets. Overall, the portfolio represents a 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,” says 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. Tenaska, based in Omaha, Neb., has developed approximately 10.5 GW of natural gas-fueled and renewable power projects. Tenaska and its affiliates have also managed the acquisition of approximately 10.75 GW of energy assets. The current Tenaska operating fleet includes 11 natural gas-fueled and renewable power plants, able to generate approximately 8 GW combined.
“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,” says Steve Johnson, senior vice president and leader of Tenaska Solar Ventures.
Acciona envisions commissioning eight of the projects by the end of 2023, adding around 1.5 GW of peak capacity (some 1.2 GW of rated capacity) to its North American renewable energy portfolio.
The agreement with Tenaska boosts Acciona’s North American portfolio, which includes approximately 1.25 GW of wind power installed and under construction. Acciona also owns and operates the 64 MW Nevada Solar One concentrated solar plant, located outside of Las Vegas.
Globally, Acciona operates almost 10 GW of renewable capacity under its ownership across 16 countries.