8-K
filed May 28, 2026, 4:31 PM ET
ticker TVE
CIK 0001376986
other material
confidence high
sentiment neutral
materiality 0.90
Tennessee Valley Authority (TVE): debt financing — TVA signs $2B lease-purchase for Cumberland Combined Cycle Generation Facility
Tennessee Valley Authority
- TVA received $1.93 billion from CCCGL on May 26, 2026, for a 50-year head lease and construction management agreement.
- CCCGL raised $2 billion with $200 million equity and $1.8 billion in secured notes to fund the transaction.
- TVA leases back the facility for 30 years with semi-annual rent payments starting November 15, 2026, ending May 15, 2056.
- The natural gas-fired facility is expected to begin commercial operations by December 2026.
- TVA Board amended compensation plans on May 21, 2026, cutting EAIP maximum payout to 150% and LTIP to 150%.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Tennessee Valley Authority incurred senior notes of $1,800,000,000 with CCCGL.
- Instrument
- senior notes
- Principal
- $1,800,000,000
- Counterparty
- CCCGL
- Event
- incurrence
Exact text from the filing
CCCGL issued secured notes on the Closing Date in an aggregate principal amount of $1,800,000,000.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Tennessee Valley Authority entered into Facility Lease-Purchase Agreement with Cumberland Combined Cycle Generation LLC valued at TVA will make rental payments to CCCGL on each May 15 and November 15, commencing on November 15, 20 (effective 2026-05-26).
- Action
- entry
- Agreement
- lease
- Counterparty
- Cumberland Combined Cycle Generation LLC
- Value
- TVA will make rental payments to CCCGL on each May 15 and November 15, commencing on November 15, 20
- Effective
- 2026-05-26
Exact text from the filing
In connection with this transaction, TVA entered into three material definitive agreements on the Closing Date with Cumberland Combined Cycle Generation LLC, a single-purpose Delaware limited liability company (“CCCGL”): a Head Lease Agreement (the “Head Lease”) (the United States of America is also a party to this agreement), a Facility Lease-Purchase Agreement (the “Facility Lease”), and a Construction Management Agreement (the “CMA”).
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Tennessee Valley Authority entered into Construction Management Agreement with Cumberland Combined Cycle Generation LLC valued at one-time payment to TVA in exchange for TVA's agreement to perform its obligations under the CMA (effective 2026-05-26).
- Action
- entry
- Counterparty
- Cumberland Combined Cycle Generation LLC
- Value
- one-time payment to TVA in exchange for TVA's agreement to perform its obligations under the CMA
- Effective
- 2026-05-26
Exact text from the filing
On or about the Closing Date, CCCGL will make or cause to be made a one-time payment to TVA in exchange for TVA's agreement to perform its obligations under the CMA.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Tennessee Valley Authority entered into Head Lease Agreement with Cumberland Combined Cycle Generation LLC valued at one-time rental payment of $1,931,875,011 (effective 2026-05-26).
- Action
- entry
- Agreement
- lease
- Counterparty
- Cumberland Combined Cycle Generation LLC
- Value
- one-time rental payment of $1,931,875,011
- Effective
- 2026-05-26
Exact text from the filing
On May 26, 2026 (the "Closing Date"), the Tennessee Valley Authority ("TVA") entered into a lease-purchase transaction involving its Cumberland Combined Cycle Generation Facility (the "Facility") located in Stewart County, Tennessee.
View on SEC.gov
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