Cordelio Power Increases Missouri Presence with 400 MW Wind Development Project
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TORONTO, Feb. 23, 2021 /PRNewswire/ - Cordelio Power ("Cordelio") is pleased to announce the acquisition of the 400 MW Firebrick wind project under development in Audrain County, Missouri.
The Firebrick project was acquired from Tenaska, a major U.S. renewable power developer, who will work with Cordelio to advance the project under a development services agreement.
"The Firebrick project is an important part of our effort to bring the benefits of clean power to Missouri's residents, businesses and local communities," said Nick Karambelas, Cordelio's Chief Commercial Officer. "We're excited to work with Tenaska on this project, and we hope to expand this relationship in the future as we continue to grow Cordelio's development portfolio."
"Tenaska is pleased to support Cordelio's efforts to bring more renewables to Missouri. The Firebrick project is well positioned to bring value to their portfolio," said Joel Link, senior vice president in Tenaska's Strategic Development & Acquisitions Group. "Our team is excited to continue our involvement with the project through the development phase."
About Cordelio Power
Cordelio is a renewable power producer managing over 1,000 MW of renewable generation assets across North America, including 396 MW of wind and solar projects in Ontario (51%-owned by Cordelio) plus a 656 MW (net) wind and solar portfolio stake owned by Canada Pension Plan Investment Board ("CPP Investments"). Cordelio also owns (wholly and through a joint venture) a growth pipeline of over 3,000 MW of wind, solar and storage projects in the western and midwestern US. Cordelio carries out its operations and growth activities by working with all stakeholders in an efficient, safe and environmentally responsible manner. Cordelio is wholly owned by CPP Investments.
Tenaska, based in Omaha, Nebraska, is one of the leading independent energy companies in the United States. Forbes magazine consistently ranks Tenaska among the 50 largest private U.S. companies. Tenaska has developed approximately 10,500 megawatts (MW) of natural gas-fueled and renewable power projects. Tenaska and its affiliates have managed the acquisition and divestiture of an additional 10,500 MW of energy assets. The current Tenaska operating fleet includes 12 natural gas-fueled and renewable generating facilities able to generate approximately 7,500 MW combined. Tenaska affiliates are industry leaders in natural gas and electric power marketing.
Forward Looking Statements & Information
Certain information contained 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 which may cause the actual outcomes of such events to differ from Cordelio's expectation as of the date hereof, and whether forward-looking statements ultimately prove to be accurate will depend on factors outside of the control of Cordelio. 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.
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SOURCE Cordelio Power
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