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Pinnacle West acquires minority stake in 2 wind projects from Tenaska

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Pinnacle West acquires minority stake in 2 wind projects from Tenaska

Pinnacle West Capital Corp. subsidiary Bright Canyon Energy acquired from Tenaska Energy Inc. a 9.9% interest in the 242-MW Tenaska Clear Creek wind project and a 5.1% stake in Nobles 2 wind project.

The deal closed Dec. 20, 2019, according to a Jan. 7 news release. The Tenaska Clear Creek wind farm is located in Nodaway County, Mo., and is expected to reach commercial operations in the first quarter of 2020. The wind farm will sell its output to generation and transmission cooperative Associated Electric Cooperative Inc. under a long-term power purchase agreement.

The Nobles 2 power plant is located in Nobles County, Minn., and will become operational in 2020. The power project will sell its output to ALLETE Inc. subsidiary Minnesota Power Inc. under a 20-year power purchase agreement. ALLETE owns a 49% stake in the facility.