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.
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.
For Further Information:
Ajay Sharma - Vice President, Cordelio Power
647-201-2546
Email: asharma@cordeliopower.com
www.cordeliopower.com
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.
For Further Information:
Tenaska: Timberly Ross
Office: 402-691-9517
Mobile: 402-669-4073
Email: tross@tenaska.com
www.tenaska.com
Certain information in this news release constitutes forward-looking information or forward-looking statements (collectively, "forward-looking statements"). All statements other than statements of historical fact are forward-looking statements. Forward-looking statements typically contain words such as "anticipate", "believe", "confirms", "continuous", "estimate", "expect", "may", "plan", "project", "should", "will", or similar words suggesting future outcomes, and include without limitation all financial projections, estimates of future costs, and projected performance or results. Forward-looking statements by their nature are subject to risks, assumptions and uncertainties that may cause the actual outcomes of such events to differ from Cordelio's expectation as of this date, and whether forward-looking statements ultimately prove to be accurate will depend on factors outside of Cordelio's control. Readers are encouraged to undertake their own analysis and investigation as to the reasonableness of any such forward-looking statements. Forward-looking statements contained in this news release are made as at the date of this news release, and Cordelio disclaims any intent or obligation to update or to revise any of the included forward-looking statements.
