Tenaska expands PJM energy portfolio with acquisition of Pennsylvania gas facilities


An affiliate of Tenaska, a leading independent energy company, has successfully acquired six 21-megawatt natural gas generation facilities in Northeast Pennsylvania from IMG Energy Solutions, marking a significant move to bolster the power grid’s reliability in the PJM region. This strategic acquisition underscores Tenaska’s commitment to investing in clean, efficient, and reliable power sources amidst growing concerns over the PJM network’s capacity to meet forecasted power demands.

The PJM Interconnection, serving as the regional transmission organization for 13 states and the District of Columbia, faces challenges in ensuring a steady electricity supply due to fluctuating demands and the transition to more intermittent power sources like wind and solar. Tenaska’s addition of these natural gas facilities is poised to play a pivotal role in addressing these challenges, offering a sustainable and flexible power generation solution.

See also  Still Austin Whiskey unveils barrel-proof Cask Strength Rye Whiskey

Dave Kirkwood, Tenaska’s Senior Vice President and Head of Capital Deployment & Finance, expressed enthusiasm about the acquisition, stating, “We are excited to add these high-quality projects to our portfolio of generating assets in PJM. Natural gas-fueled generation is critical to providing clean, efficient, and reliable power to the market.” This acquisition aligns with Tenaska’s strategic approach to enhancing energy reliability across the United States through significant investments in superior generating assets.

Tenaska Acquires Natural Gas Facilities in Pennsylvania to Enhance PJM's Power Grid Reliability

Tenaska Acquires Natural Gas Facilities in Pennsylvania to Enhance PJM’s Power Grid Reliability

Mike Brady, CEO of IMG Energy Solutions, highlighted the increasing importance of reliable and flexible power solutions in the context of the PJM’s evolving energy mix. “IMG’s value proposition to PJM of reliable, fast start, and flexible power is strengthened by increasing reliance on power from intermittent sources, such as wind and solar, declining coal output, and IMG’s ability to bolt-on other technologies such as battery storage,” Brady remarked. This acquisition not only enhances PJM’s energy reliability but also supports the integration of renewable energy sources and innovative technologies like battery storage.

See also  Francisco Partners and TPG to acquire observability platform New Relic for $6.5bn

The acquired plants leverage cutting-edge gas reciprocating engine technology from top-tier Original Equipment Manufacturers (OEMs), offering numerous benefits over traditional power generators, including rapid start times, high efficiency with zero water usage, and exceptional reliability. These facilities have been meticulously planned and maintained by a leadership team with over 140 years of combined experience in development and operations, ensuring their contribution to the region’s energy stability and environmental sustainability.

Share This