Tenaska Sells Power Station

Tenaska Power Fund has completed its sale of the Commonwealth Chesapeake Power Station in New Church, Va., to Tyr Energy Inc. of Overland Park, Kansas. No financial terms were disclosed. J.P. Morgan Securities advised Tenaska, while Fieldstone Private Capital Group advised Tyr energy.

PRESS RELEASE

Sale of the Commonwealth Chesapeake Power Station in New Church, Va., by Tenaska Power Fund, L.P. (TPF) of Omaha, Neb., to Tyr Energy, Inc. (Tyr Energy) of Overland Park, Kan., has been completed. 

Financial close occurred on February 13, 2008.  The announcement was made jointly by Paul Smith, Senior Managing Director of Tenaska Capital Management, LLC, manager of TPF, and Karl Usami, president and CEO of Tyr Energy.

J.P.Morgan Securities Inc. served as advisor to TPF and Fieldstone Private Capital Group served as advisor to Tyr Energy on the transaction. The purchase price was not disclosed.

Commonwealth Chesapeake Power Station delivers energy to the PJM regional power reliability grid serving large areas in the East, Northeast and Midwest.  The plant includes seven simple-cycle, oil-fueled turbine electric generator sets able to produce 315 megawatts of electricity