Tenaska Closes $319 Million Solar Plant Refinancing

Tenaska Inc., a closely held renewable-energy developer, closed a $319.4 million refinancing of a solar project in California.

The company raised the funds through the sale of senior secured notes for the 130-megawatt Imperial Solar Energy Center South project near El Centro, California, that began operations earlier this month, Omaha, Nebraska-based Tenaska said today in a statement.

The project is majority owned by a Tenaska affiliate and Prudential Capital Group is buying a minority interest in the project, subject to regulatory approvals, Tenaska said in the statement. RBC Capital Markets LLC acted as an advisor on the sale of the equity interest to Prudential.