Natural Gas Plant

Tenaska Acquires Natural Gas Generation Facilities

February 08, 20241 min read

IMG Press Release

An affiliate of Tenaska has acquired six 21-megawatt natural gas generation facilities in Northeast Pennsylvania from IMG Energy Solutions. The acquisition comes at a time when PJM, the regional transmission organization responsible for coordinating the movement of wholesale electricity in all or parts of 13 states and the District of Columbia, has concerns about the ability to meet forecasted power demands.

“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,” said Dave Kirkwood, senior vice president and head of capital deployment & finance at Tenaska. “This acquisition is a good fit as part of Tenaska’s strategy to deploy capital through investments in quality generating assets across the country.”

Mike Brady, CEO of IMG Energy Solutions, commented on the transaction, “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.”

Each of the six plants uses proven gas reciprocating engine technology provided by top-tier OEMs with significant advantages across start time, efficiency (including zero water usage), and reliability relative to other power generators. The plants were thoughtfully planned and have been well-maintained by a seasoned leadership team with more than 140 years of collective development and operations experience.

Full Press Release

IMG EnergyTenaskaPress ReleaseNatural Gas AssetsNatural Gas Power PlantAsset SaleEnergy Solutions
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