Private asset management firm, Capital Dynamics has joined hands with natural gas energy company Tenaska to develop a portfolio of 2 GW greenfield solar projects in the Midwestern US. This capacity will be set up in the Midcontinent Independent System Operator (MISO) market in the form of 14 solar projects.
Capital Dynamics entered the arrangement through its Clean Energy Infrastructure (CEI) business. It said that the portfolio represents a large share of all solar projects currently in the MISO North interconnection queue, including those in Michigan, Missouri, Illinois, Wisconsin, Indiana and Minnesota. The official statement on this development did not mention specific location of the projects or their capacities.
"This agreement was a unique opportunity for us to acquire a meaningful pipeline of solar capacity in an efficient project development structure within a market poised for growth," said Benoit Allehaut, director of Capital Dynamics' CEI team. "We are excited to be expanding our partnership (with Tenaska) and offer clean energy power through long-term supply contracts to customers in the Midwest."
As of November 1, 2018, CEI is the second-largest owner of solar projects in the US, managing some $4.9 billion in assets and 3.1 GW capacity in its current portfolio located in the US and Europe, according to Capital Dynamics,
Tenaska has developed some 10 GW of natural gas and renewable energy generation that includes 2 operational utility scale PV projects through its renewables business arm, Strategic Development & Acquisitions (SDA) Group. It is also a majority stakeholder in Soltage, LLC, a distributed rooftop and ground mount solar company.
.png?w=50&fm=png){kind=logo}