Tenaska to Develop 2GW of Solar in MISO Market

The local power provider signed an agreement with Capital Dynamics to develop approximately 14 solar projects in the Midcontinent Independent System Operator market.

Capital Dynamics, a Switzerland-based independent global private asset management firm, has signed an agreement with energy developer Tenaska to build a 2,000-megawatt portfolio of greenfield solar power projects in the Midwestern U.S. Amis, Patel & Brewer acted as legal counsel for the deal.

The agreement includes 14 solar projects to be built in the Midcontinent Independent System Operator market and represents a large share of all solar projects currently in the MISO North interconnection queue, with facilities in Michigan, Missouri, Illinois, Wisconsin, Indiana and Minnesota.

According to the grid operator, the MISO fuel mix currently consists of:

  • natural gas – 22.4 percent
  • coal – 53.5 percent
  • nuclear – 17 percent
  • wind – 6.1 percent
  • other – nearly 1 percent

“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’ Clean Energy Infrastructure team, in prepared remarks. “Tenaska has historically been one of the most successful developers of electric generation and a close partner of Capital Dynamics on several existing projects. We are excited to be expanding our partnership and offer clean energy power through long-term supply contracts to customers in the Midwest.”