Tenaska Solar Ventures Acquires Silverleaf Solar Project in Imperial Valley

OMAHA, Neb., Aug. 27, 2012 /PRNewswire/ -- Tenaska Solar Ventures, LLC (TSV), an affiliate of Omaha-based Tenaska, today announced that it has acquired the Silverleaf photovoltaic solar project, a proposed 160-megawatt (MW) solar energy project under development in Southern California, from Agile Solar Holdings, an affiliate of Agile Energy, LLC (Agile Energy), and Bregal Energy, an affiliate of Agile Solar Holdings. The transaction closed on Aug. 1.

"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 the nation's largest independent energy producers. Agile Energy, of San Bruno, Calif., is a developer of utility-scale power generating projects and will provide development services to TSV through the completion of project permitting. TSV will assume responsibility for all other development aspects of the project, including securing a power purchase agreement.

The project, to be named Tenaska Silverleaf Solar Energy Center, would be located on approximately 1,100 acres of agricultural land west of El Centro, Calif., and east of Tenaska Imperial Solar Energy Center West, a 150-MW solar generating facility also being developed by an affiliate of TSV.

Construction is slated to begin as early as 2014, with commercial operation targeted for as early as 2015. The project is expected to provide approximately 250 direct jobs during peak construction and two to six full-time positions after the plant begins operations.

"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."

TSV is one of America's top five utility-scale solar developers, according to PV News, having successfully developed two solar energy centers in California's Imperial Valley to date. Tenaska recently obtained commercial financing for and began construction of Tenaska Imperial Solar Energy Center South, a 130-MW photovoltaic solar generating plant near El Centro. The plant is one of the largest commercially financed solar projects in the U.S. to date. Commercial operation is expected in the second half of 2013. TSV has completed permitting for the Tenaska Imperial Solar Energy Center West. Commercial financing and construction is expected in early 2013, with commercial operation in 2015.

Tenaska has developed approximately 9,000 MW of electric generating capacity across the United States. Forbes magazine ranks Tenaska 25th among the largest privately-held U.S. companies, based on 2010 revenues.

About Tenaska Solar Ventures

Tenaska Solar Ventures, LLC, is the solar energy development affiliate of Tenaska. Tenaska is one of the largest independent power producers in the United States. Forbes magazine ranks Tenaska 25th among the largest privately-held U.S. companies, based on 2010 revenues. Tenaska has developed approximately 9,000 megawatts (MW) of electric generating capacity across the United States. Tenaska affiliates currently operate and manage eight power plants totaling more than 6,700 MW that it owns in partnership with other companies. Tenaska is headquartered in Omaha, Neb., with offices in Dallas, Denver, Pittsburgh and Calgary, Alberta, Canada. Tenaska affiliates also market natural gas, electric power and biofuels, with Tenaska's natural gas marketing affiliate rated as one of the top ten natural gas marketers in North America. Tenaska affiliates are also involved in private equity fund and acquisition management, fuel supply, natural gas exploration, production and transportation systems and electric transmission development. For more information about Tenaska and Tenaska Solar Ventures, visit www.tenaska.com or www.tenaskasolarventures.com.

About Agile Energy, LLC

Agile Energy, LLC is a developer of utility-scale power generating projects. The company manages and performs all development activities required to bring its projects from conception through completion, including siting, environmental permitting, securing transmission, contract negotiations and arranging project financing. Focused on photovoltaic and natural gas projects in North America, Agile Energy is emerging as one of the most reliable, determined and creative development companies in the energy sector.

SolarVision Transaction One of Largest NMTC Deals for Solar Power

COLUMBUS, Ohio--(BUSINESS WIRE)--SolarVision, LLC, a solar energy provider and developer, has successfully executed an $18 million transaction using new market tax credits (NMTC) to fund a 5 megawatt utility-scale solar power system in Celina, OH. The deal, which took 18 months to culminate, was formed out of a comprehensive partnership including SolarVision; New Energy Capital Cleantech Infrastructure Fund; Q.CELLS North America; Finance Fund and JPMorgan Chase & Co.

“These types of deals are incredibly intricate and complex to execute. It was a matter of pulling together and coordinating the project with the right partners who could help us allocate the people and resources we needed to successfully complete the Celina solar system project and adhere to the requirements of the new market tax credits,” Don Saul, president of SolarVision, said. “A deal of this magnitude requires an extreme degree of specialized knowledge.”

The NMTC program helps finance business investments in economically distressed communities nationwide. SolarVision is one of the largest NMTC developers for solar power in the country. With the Celina solar power deal, SolarVision has received a combined total of $23 million in NMTC.

Two years ago, SolarVision received $5.3 million in NMTC from Finance Fund for five solar energy projects throughout Ohio that SolarVision successfully completed on time and on budget. Finance Fund continued its partnership with SolarVision by securing both state and federal NMTC for the Celina solar power project, covering the entire transaction.

The Celina solar power project NMTC were monetized by JPMorgan Chase & Co. The balance of funding was provided by New Energy Capital, which joined the Celina solar power project as an investor and enlisted Q.CELLS as an EPC and panel provider. In the end, a bridge financing loan provided by Q.CELLS brought the deal to a close.

The deal between these organizations marks the beginning of an on-going collaboration on sustainable energy projects throughout the country. The Celina solar system will provide enough energy to power approximately 500 homes. With the PV solar array system connected to the city of Celina’s own electric company, about 8 percent of the city’s annual energy requirements will be fulfilled by solar energy.

Satcon Selected by Unity Electric, LLC for 16 Megawatts in New Jersey

BOSTON--(BUSINESS WIRE)--Satcon Technology Corporation® (NASDAQ CM: SATC), a leading provider of utility-scale power conversion solutions for the renewable energy market, today announced that it has been selected by Unity Electric, LLC to supply 16 Megawatts (MW) of their PowerGate® Plus solutions to power a utility-scale solar farm in Tinton Falls, New Jersey.

For this project, Unity Electric, LLC will deploy thirty two PowerGate Plus 500kW solutions; the world's most widely deployed large-scale solar PV inverters. Upon completion, this site will be one of the largest solar installations in the North East.

Satcon’s Utility Ready inverter solutions are the industry’s most advanced and proven large scale power conversion technologies and deliver intelligent power plant management, enabling improvements in total power plant reliability and yield through more powerful system monitoring, diagnostic, and remote control functionality.

With over two Gigawatts (GW) of utility-ready inverters shipped, Satcon solutions help power the world’s most advanced solar farms. Satcon inverters enable instant voltage stabilization, frequency control, dynamic grid support, and secures the continuous operation of the PV plant in the event of dynamic ground faults, achieving the performance guidelines set forth by the German Association of Energy and Water Industries (BDEW 2008 Grid Connection Standard).

Construction for the Tinton Falls project is currently underway.

About Satcon

Satcon Technology Corporation® is the leading provider of utility-scale power conversion solutions for the renewable energy market, enabling the industry’s most advanced reliable and proven clean energy alternatives. For over 27 years, Satcon has designed and delivered the next generation of efficient energy systems for solar photovoltaic, stationary fuel cells, and energy storage systems. To learn more about Satcon, please visit www.Satcon.com.

About Unity Electric, LLC

Unity International’s Energy Division, headquartered in East Rutherford, NJ, is an industry-leader in Utility-Scale Power Generation systems and Enterprise-class Data Center construction, including the feasibility studies, economic analyses, design, engineering, and procurement associated to such projects. Staff experience ranges from small-commercial scale off-grid applications to large scale grid-interactive solar farms. For more information on Unity’s suite of services, including their asset management and maintenance programs, visit www.unityig.com (energy@unityig.com 973.272.0700).