Published on August 31st, 2012 | by Nicholas Brown0
Tenaska Solar Ventures Acquires 160-MW Silverleaf Solar Project in Imperial Valley, California
Tenaska Solar Ventures LLC, an affiliate of Tenaska, which is based in Omaha, announced that it has acquired the Silverleaf solar project. This is a proposed 160-MW (megawatt) photovoltaic power plant under development in southern California from Agile Solar Holdings, an affiliate of Agile Energy and Bregal Energy, which is an affiliate of Agile Solar Holdings.
Construction of the project is slated to commence as early as 2014, and to be commissioned as early as 2015. Photovoltaic solar power plants can be set up relatively quickly, largely due to the fact that the generators are already prebuilt in factories and ready to deploy. They just need to be positioned on the ground.
“Tenaska has 25 years of experience bringing energy projects to the finish line, across the nation and now in California,” said Steve Johnson, vice president, Development. “This record and Agile Energy’s expertise create a strong, innovative team that will build on Tenaska’s solar energy development momentum. Together, we will help California electricity providers meet the state’s renewables portfolio standard.”
Tenaska is one of America’s largest independent energy producers. Agile Energy of San Bruno, California, is a producer of utility-scale power plants and will provide development services to TSV (Tenaska Solar Ventures) through the completion of the project.
“Agile Energy’s vision of developing a major solar generating station in the Imperial Valley will now be realized with the backing of Tenaska,” said Glen Davis, CEO of Agile Energy. “We’re excited to be working with one of the premier companies in our industry to bring Silverleaf into operation.”
Tenaska Solar Ventures will assume responsibility for all other development aspects of the project, including securing a PPA (Power Purchase Agreement).
A power purchase agreement is an agreement between a party that is to purchase electricity, and another party that is to construct the power plant necessary to generate that power the first party wants.
PPAs consist of details such as when the power plant is to be constructed and commissioned, termination date, and other information.