Finance Integrity
Foundation For Growth
One of the hallmarks of Tenaska’s financial approach over the past 35 years has been its ability to initiate new investments from a firm financial foundation. A combination of focus, commitment and vision has served the company and its customers well over the years.
The company continued its strong financial performance in 2021, built along three diverse but parallel tracks that layer strength on strength: managing large transactions; providing financial support for marketing affiliates; and securing financing matched to specific development and acquisition opportunities.
Following on its successful tax equity investment in Lotus Solar Farm, a 50 megawatt (MW) project in Southern California, Tenaska led the tax equity investment for the 124 MW Coniglio Solar Project in Texas, which commenced operations in 2021 and generates enough electricity to power approximately 30,000 homes. In addition to new Tax Equity investments, Tenaska’s Capital Deployment group continues to explore new acquisition and investment opportunities.
Tenaska is proud of its record of never having missed a principal or interest payment, a record based on more than $18 billion financed through commercial banks, capital market transactions and corporate facilities, a strong signal that investors and lenders trust Tenaska to meet its commitments and operate with integrity and transparency. In 2021, Tenaska successfully repaid in full the long-term bonds used to finance the Kiowa Power Partners generating facility.
$18.4 BILLION
Gross Operating Revenues
$18.4 BILLION
Aggregate Financing
$2.9 BILLION
Total Balance Sheet Equity
$5.7 BILLION
Total Assets
Finance Highlight
As markets and customers’ needs evolve, Tenaska maintains a uniquely stable financial base, allowing the company the ability to assess risks and opportunities and make the kind of decisions that position our company, customers, partners, investors and lenders for long-term strength.
Tax Equity Growth
Providing tax equity and power marketing services for the Coniglio Solar Project is a natural fit for Tenaska, which has a proven record of 30+ years providing energy marketing services and developing, owning and operating power plants throughout Texas.
Power Generation Investment Overview
| PROJECT | MW | POWER PURCHASER | TENASKA’S ROLE | CREDIT RATINGS |
|---|---|---|---|---|
 Nobles 2 Wind ProjectNobles 2 Power Partners, LLC Wilmont, Minnesota, USA (2020) |
250
|
Minnesota Power
|
Developer/ Owner/ Managing Partner
|
N/A1
|
|
Tenaska Clear Creek Energy Center Tenaska Clear Creek Wind, LLC Maryville, Missouri, USA (2020) |
242
|
Associated Electric Cooperative Inc.
|
Developer/ Owner/ Managing Partner
|
N/A1
|
 Tenaska Westmoreland Generating StationTenaska Pennsylvania Partners, LLC Smithton, Pennsylvania, USA (2018) |
940
|
PJM
(Merchant) |
Developer/ Owner/ Operator/ Managing Partner
|
N/A1
|
 Berkshire Power Company Tenaska Hampden Partners, LLC Agawam, Massachusetts, USA (2000, purchased in 2018) |
229
|
ISO – New England (Merchant)
|
Owner/ Operator
|
N/A
|
 Tenaska Imperial Solar Energy Center WestCSOLAR IV West, LLC Seeley, California, USA (2016) |
150
|
San Diego Gas & Electric Company
|
Developer/ Owner/ Managing Partner
|
BBB
|
|
Tenaska Imperial Solar Energy Center South CSOLAR IV South, LLC Calexico, California, USA (2013) |
130
|
San Diego Gas & Electric Company
|
Developer/ Owner/ Managing Partner
|
BBB/BBB+
|
|
Tenaska Virginia Generating Station Tenaska Virginia Partners, L.P. Scottsville, Virginia, USA (2004) |
940
|
Shell Energy North America (US), L.P.
|
Developer/ Owner/ Operator/ Managing Partner
|
Baa1/BBB
|
|
Tenaska Kiamichi Generating Station Kiowa Power Partners, LLC Kiowa, Oklahoma, USA (2003) |
1,220
|
ERCOT/SPP (Merchant)
|
Developer/ Owner/ Operator/ Managing Partner
|
N/A1
|
|
Tenaska Lindsay Hill Generating Station Tenaska Alabama Partners, L.P. Billingsley, Alabama, USA (2002) |
859
|
Mercuria Energy America, Inc.
|
Developer/ Owner/ Operator/ Managing Partner
|
N/A1
|
|
Tenaska Georgia Generating Station Tenaska Georgia Power Partners, L.P. Franklin, Georgia, USA (Phase 1 – 2001; Phase 2 – 2002) |
945
|
Exelon Generation Company, LLC
|
Developer/ Lessee/ Operator/ Managing Partner
|
Baa2/BBB-
|
|
Tenaska Gateway Generating Station Tenaska Gateway Partners, Ltd. Mt. Enterprise, Texas, USA (2001) |
845
|
Shell Energy North America (US), L.P.
|
Developer/ Owner/ Operator/ Managing Partner
|
BBB
|
|
Tenaska Frontier Generating Station Tenaska Frontier Partners, Ltd. Shiro, Texas, USA (2000) |
830
|
ERCOT/MISO (Merchant)
|
Developer/ Owner/ Operator/ Managing Partner
|
N/A1
|
|
Other Investments
|
|
|
|
|
 Bird Machine Solar Farm, LLCWalpole, Massachusetts, USA (2017) |
3
|
Town of Walpole
|
Investor
|
—
|
|
Coniglio Solar Farm Wolfe City, Texas, USA (2021) |
124
|
ERCOT (Merchant)
|
Investor
|
—
|
|
Elkhorn Ridge, LLC Bloomfield, Nebraska, USA (2009) |
79
|
Nebraska Public Power District
|
Investor
|
—
|
|
Iron Horse Solar 1, LLC Billerica, Massachusetts, USA (2016) |
3
|
Town of Barre and four local school districts
|
Investor
|
—
|
|
Lotus Solar Partnership, LLC Madera, California, USA (2020) |
50
|
Southern California Edison
|
Investor
|
—
|
|
Soltage – SFS 430 Hartford, LLC Hartford, Connecticut, USA (2016) |
4
|
St. Francis Hospital and Medical Center
|
Investor
|
—
|
1Commercial Bank Facility; Not Rated
-
Developed/Owned/Operated
Natural Gas Plants -
Owned/Operated
Natural Gas Plants -
Developed/Owned
Solar Facilities -
Developed/Owned
Wind Facilities -
Renewable
Investment
Offices & Contact Information