Toronto, Ontario and Omaha, Nebraska (August 30, 2022): Cordelio Power and Tenaska are pleased to announce a joint development agreement to originate new wind projects in select power markets in the United States.
Under the five-year agreement, Tenaska will originate and develop new wind energy projects exclusively for Cordelio, with a focus on power markets in MISO, PJM and the Western Interconnection. As part of the arrangements, Cordelio has acquired a 1,000 MW portfolio of renewable projects currently under development by Tenaska.
Nick Karambelas, Cordelio’s Chief Commercial Officer, said: “We look forward to working with Tenaska, a proven developer, to build out a large-scale portfolio of wind projects over the next several years, as we expand our efforts to provide clean power to North American markets.”
“Tenaska’s business is relationship-driven, and our team looks forward to continued collaboration with Cordelio as we advance wind development across the U.S.,” said Joel Link, senior vice president in Tenaska’s Strategic Development and Acquisitions Group.
Cordelio previously acquired two other wind development projects from Tenaska, including the Firebrick project in Missouri, and Tenaska will continue to support the development of each of those projects.
About Cordelio Power
Cordelio is a renewable power producer that manages an operating portfolio of over 1,200 MW of renewable power assets in Canada and the USA. We also oversee a growth pipeline of over 14,000 MW of wind, solar and storage projects spread across the USA. We strive to work with all of our stakeholders in an efficient, safe and environmentally responsible manner. Cordelio is wholly owned by Canada Pension Plan Investment Board.
Tenaska is proud to be one of the leading independent energy companies in the United States, with a reputation for high standards and expertise in natural gas and electric power marketing, energy management, development and acquisition of energy assets, and operation of generating facilities. Forbes magazine consistently ranks Tenaska among the largest private U.S. companies. Gross operating revenues were $18.4 billion in 2021. Tenaska has developed, managed and/or operated approximately 22 gigawatts (GW) of natural gas-fueled and renewables generation. Its development portfolios include more than 23 GW of solar, wind and energy storage projects.