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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.

 

Tenaska Recognized As A 2021
U.S. Best Managed Company

Tenaska is a 2021 U.S. Best Managed Company, a recognition given by Deloitte Private and The Wall Street Journal to private companies that demonstrate excellence in strategic planning and execution, corporate culture and financial results.

Power Generation Investment Overview

PROJECT MW POWER PURCHASER TENASKA’S ROLE CREDIT RATINGS
Nobles 2 Wind Project
Nobles 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 Station
Tenaska Pennsylvania Partners, LLC
Smithton, Pennslyvania, 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 West
CSOLAR 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, LLC
Walpole, 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

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Offices & Contact Information

 

Omaha Headquarters

14302 FNB Parkway
Omaha, NE 68154-5212
USA

402-691-9500