Prudential Financial Inc. (PRU) bought a
stake in a California solar power project from closely held U.S.
power generator Tenaska Inc.
Prudential Capital Group bought a minority interest in the
130-megawatt Tenaska Imperial Solar Energy Center South project
near El Centro, California, the Omaha, Nebraska-based company
said today in a statement. Terms of the transaction are
confidential, according to the statement.
Imperial Valley will produce enough electricity once
completed for about 44,000 California homes at peak times
through a 25-year power contract with Sempra Energy (SRE) utility San
Diego Gas Electric, Tenaska said. The project’s website states
that the project will be completed before the year’s end.
Tenaska is developing a separate 150-megawatt project
called Imperial Solar Energy Center West near El Centro that
will also sell its power to SDGE.
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