Document:

<PAGE>

                                                                    Exhibit 4.29

                  [The First National Bank Of Omaha Letterhead]

                      IRREVOCABLE STANDBY LETTER OF CREDIT

                                            DATE:  NOVEMBER 04, 1999
                                            LETTER OF CREDIT NUMBER: STB20000387

BENEFICIARY:
THE CHASE MANHATTAN BANK
NEW YORK BRANCH
450 WEST 33rd STREET
NEW YORK, NY 10001

WE HEREBY ESTABLISH OUR IRREVOCABLE STANDBY LETTER OF CREDIT NO. STB20000387 ON
BEHALF OF TENASKA GEORGIA, INC., 1044 NORTH 115TH STREET, SUITE 400, OMAHA, NE
68154-4446, FOR ANY SUM OR SUMS NOT EXCEEDING AN AGGREGATE TOTAL AMOUNT OF
*USD355,000.00* (THREE HUNDRED FIFTY FIVE THOUSAND AND NO/100 U.S. DOLLARS)
AVAILABLE UPON PRESENTATION OF YOUR DRAFTS AT SIGHT ON FIRST NATIONAL BANK OF
OMAHA, INTERNATIONAL DEPARTMENT, 1620 DODGE STREET, OMAHA, NE 68102.

DRAFTS MUST BE ACCOMPANIED BY:

PRESENTATION OF:

1.       A DRAFT IN THE FORM OF "EXHIBIT A" HERETO, DULY COMPLETED, EXECUTED AND
         DELIVERED BY THE BENEFICIARY'S AUTHORIZED OFFICER; AND

2.       A DRAWING CERTIFICATE ("DRAWING CERTIFICATE") IN THE FORM OF "EXHIBIT
         B" HERETO, DULY COMPLETED, EXECUTED AND DELIVERED BY THE BENEFICIARY'S
         AUTHORIZED OFFICER.

THE TERM "BENEFICIARY" INCLUDES ANY SUCCESSOR BY OPERATION OF LAW OF THE NAMED
BENEFICIARY, INCLUDING, WITHOUT LIMITATION, ANY LIQUIDATOR, REHABILITATOR,
RECEIVER OR CONSERVATOR. ALL OTHER CAPITALIZED TERMS USED HEREIN HAVE THE
MEANING SET FORTH IN THE EQUITY CONTRIBUTION AGREEMENT (THE "EQUITY CONTRIBUTION
AGREEMENT"), DATED AS OF NOVEMBER 1, 1999, BY AND AMONG TENASKA GEORGIA
PARTNERS, L.P., THE CONTRIBUTING PARTNERS THERETO AND THE BENEFICIARY, AS
COLLATERAL AGENT.

IN ACCORDANCE WITH RULE 3.14 OF THE INTERNATIONAL STANDBY PRACTICES (ISP98), IF
THIS LETTER OF CREDIT EXPIRES DURING AN INTERRUPTION OF

                                      A-1
<PAGE>

BUSINESS, WE WILL EFFECT PAYMENT OF THE LETTER OF CREDIT IF DRAWN AGAINST WITHIN
30 DAYS AFTER THE RESUMPTION OF BUSINESS.

PAYMENT WILL BE EFFECTED BY 5:00 P.M. THE SAME DAY THAT CONFORMING DOCUMENTS ARE
PRESENTED TO THE FIRST NATIONAL BANK OF OMAHA, INTERNATIONAL DEPARTMENT, 1620
DODGE STREET, OMAHA, NE 68102 IF RECEIVED PRIOR TO 1:00 P.M. LOCAL TIME.

IT IS A CONDITION OF THIS LETTER OF CREDIT THAT IT IS DEEMED TO BE AUTOMATICALLY
EXTENDED WITHOUT AMENDMENT FOR 12 MONTHS FROM THE EXPIRY DATE HEREOF, OR ANY
FUTURE EXPIRATION DATE, UNLESS AT LEAST 90 DAYS PRIOR TO ANY EXPIRATION DATE, WE
NOTIFY YOU BY REGISTERED MAIL OR COURIER SERVICE THAT WE ELECT NOT TO CONSIDER
THIS LETTER OF CREDIT RENEWED FOR ANY SUCH ADDITIONAL PERIOD. IN THAT EVENT, YOU
MAY DRAW HEREUNDER ON OR PRIOR TO THE THEN RELEVANT EXPIRATION DATE, UP TO THE
FULL AMOUNT THEN AVAILABLE HEREUNDER, AGAINST YOUR SIGHT DRAFT(S) ON US, BEARING
THE NUMBER OF THIS LETTER OF CREDIT.

THE DRAFTS DRAWN UNDER THIS CREDIT ARE TO BE ENDORSED HEREON AND MUST BEAR THE
CLAUSE "DRAWN UNDER THE FIRST NATIONAL BANK OF OMAHA LETTER OF CREDIT NO.
STB20000387 DATED NOVEMBER 04, 1999."

WE HEREBY AGREE WITH YOU THAT DRAFTS DRAWN UNDER AND IN COMPLIANCE WITH THE
TERMS OF THIS LETTER OF CREDIT THAT THE SAME SHALL BE DULY HONORED ON DUE
PRESENTATION IF DRAWN AND NEGOTIATED ON OR BEFORE NOVEMBER 04, 2000. DRAFTS MUST
BE PRESENTED TO FIRST NATIONAL BANK OF OMAHA, INTERNATIONAL DEPARTMENT, 1620
DODGE STREET, OMAHA, NE 68102 BY 5:00 PM LOCAL TIME.

THIS LETTER OF CREDIT SETS FORTH IN FULL THE TERMS OF OUR UNDERTAKING, AND SUCH
UNDERTAKING SHALL NOT IN ANY WAY BE MODIFIED, AMENDED OR AMPLIFIED BY REFERENCE
TO ANY NOTE, DOCUMENT, INSTRUMENT OR AGREEMENT REFERRED TO HEREIN OR IN WHICH
THIS LETTER OF CREDIT IS REFERRED TO OR TO WHICH THIS LETTER OF CREDIT RELATES
AND ANY SUCH REFERENCE SHALL NOT BE DEEMED TO BE INCORPORATED HEREIN BY
REFERENCE TO ANY NOTE, DOCUMENT OR AGREEMENT.

THE ORIGINAL LETTER OF CREDIT AND ALL AMENDMENTS MUST BE PRESENTED WITH EACH
DRAWING OR WHEN CANCELING THE LETTER OF CREDIT PRIOR TO THE EXPIRY DATE.

EXCEPT SO FAR AS OTHERWISE STATED, THIS LETTER OF CREDIT IS SUBJECT TO THE RULES
OF THE INTERNATIONAL STANDBY PRACTICES AS ADOPTED BY THE INTERNATIONAL CHAMBER
OF COMMERCE, WHICH ARE IN EFFECT AT THE TIME OF ISSUANCE OF THE LETTER OF
CREDIT.

                                      A-2
<PAGE>

                                     THE FIRST NATIONAL BANK OF OMAHA

                                          /s/ Wanda A. Nesluitt
                                     --------------------------------
                                            AUTHORIZED SIGNATURE

                                      A-3
<PAGE>
                                                                       EXHIBIT A

                                   SIGHT DRAFT

                                                    DATE:

TO:      THE FIRST NATIONAL BANK OF OMAHA
         (AS THE ISSUER OF THE LETTER OF CREDIT REFERENCED BELOW)
         INTERNATIONAL DEPARTMENT
         1620 DODGE STREET
         OMAHA, NE 68102

RE:      DRAWN UNDER THE FIRST NATIONAL BANK OF OMAHA
         IRREVOCABLE LETTER OF CREDIT NO. STB20000387 DATED
         NOVEMBER 04, 1999

ON SIGHT

         PAY TO THE CHASE MANHATTAN BANK, NEW YORK BRANCH, AS THE COLLATERAL
AGENT UNDER THE EQUITY CONTRIBUTION AGREEMENT, DATED AS OF NOVEMBER 1,1999, BY
AND AMONG TENASKA GEORGIA PARTNERS, L.P., THE CONTRIBUTING PARTNER PARTY
THERETO, AND THE CHASE MANHATTAN BANK, A NATIONAL ASSOCIATION ORGANIZED AND
EXISTING UNDER THE LAWS OF THE STATE OF DELAWARE, ACTING THROUGH ITS NEW YORK
BRANCH, AS COLLATERAL AGENT (THE "COLLATERAL AGENT") FOR THE SENIOR PARTIES
UNDER AND AS DEFINED IN THE COMMON AGREEMENT, DATED AS OF NOVEMBER 1,1999, BY
AND AMONG TENASKA GEORGIA PARTNERS, L.P., THE TRUSTEE, THE DSR LOC AGENT, THE
PPA LOC AGENT, THE WORKING CAPITAL LINE FACILITY PROVIDER AND THE COLLATERAL
AGENT, IN IMMEDIATELY AVAILABLE FUNDS __________ U.S. DOLLARS (U.S.$__________)
BY 5:00 P.M. NEBRASKA TIME, ON THE DATE HEREOF, IF THIS SIGHT DRAFT IS PRESENTED
PRIOR TO 1:00 P.M., NEBRASKA TIME, PURSUANT TO IRREVOCABLE LETTER OF CREDIT NO.
STB20000387 OF THE FIRST NATIONAL BANK OF OMAHA, AND OTHERWISE BY 5:00 P.M.
NEBRASKA TIME, ON THE NEXT BUSINESS DATE AFTER THE DATE HEREOF.

                                       THE CHASE MANHATTAN BANK,
                                       NEW YORK BRANCH

                                       BY:
                                           ------------------------------------
                                           NAME:
                                           TITLE:

                                   Annex A-1
<PAGE>
                                                                       EXHIBIT B

                               DRAWING CERTIFICATE

In connection with the proposed drawing in the amount of $__________ under The
First National Bank of Omaha Irrevocable Standby Letter of Credit No.
STB20000387 (the "LETTER OF CREDIT") issued for the account of TENASKA GEORGIA,
INC., the undersigned authorized officer of The Chase Manhattan Bank, New York
Branch, as Collateral Agent (the "BENEFICIARY") hereby certifies that:

         1.       This Drawing Certificate, as executed, must contain one, but
                  only one, of the three alternative paragraphs set forth below:

                  Alternative 1: The foregoing amount represents all or a
                  portion of a Contributing Partner Equity Contribution (as
                  defined in the Equity Contribution Agreement (the
                  "AGREEMENT"), dated as of November 1, 1999, by and among
                  Tenaska Georgia Partners, L.P., the Contributing Partner Party
                  thereto and the Beneficiary, as Collateral Agent), from
                  [__________], which is currently due and payable to the
                  Beneficiary under the Agreement in accordance with its terms
                  and has not been paid.

                  OR

                  Alternative 2: The Letter of Credit no longer qualifies as an
                  Acceptable Letter of Credit (as defined in the Agreement) and
                  [__________] has not furnished a Substitute Support Instrument
                  (as defined in the Agreement) in substitution for the Letter
                  of Credit.

                  OR

                  Alternative 3: The Letter of Credit will expire within fifteen
                  (15) Business Days and [__________] has not furnished a
                  Substitute Support Instrument (as defined in the Agreement) in
                  substitution for the Letter of Credit and as a consequence
                  thereof the amount of $[__,___,___] is due and payable.

         2.       The amount of the drawing to be made hereunder does not exceed
                  the amount of the Contributing Partner Equity Contribution
                  which is due and payable on the Date of Commercial Operation
                  of the Final Units by [__________] to the Beneficiary pursuant
                  to the Agreement and has not been paid.

                                      B-1
<PAGE>

IN WITNESS WHEREOF, the undersigned has executed and delivered this Drawing
Certificate as of this _____ day of __________, ____.

                                      The Chase Manhattan Bank,
                                      New York Branch

                                      BY:
                                          ------------------------------------
                                          Name:
                                          Title:

                                      B-2<PAGE>
                                                                    Exhibit 10.1

                             H. B. ZACHRY COMPANY.

                             GUARANTY OF OBLIGATION

This Guaranty is made by H. B. Zachry Company, a Delaware corporation
("Guarantor"), in favor of Tenaska Georgia Partners, L.P., a Delaware limited
partnership ("Owner") with respect to that certain Engineering, Procurement and
Construction Agreement dated the 15th day of September, 1999, between Tenaska
Georgia I, L.P., a Delaware limited partnership ("Tenaska") and Zachry
Construction Corporation, a Delaware corporation ("Contractor") for the
construction of the Tenaska Georgia Generation Station in Heard County, Georgia,
as amended, supplemented or otherwise modified from time to time, (hereinafter
called the "EPC Agreement"). Tenaska, having assigned the EPC Agreement to
Owner, effective November 10, 1999, and such assignment having been consented to
by Contractor, now requires this Guaranty, as provided in the EPC Agreement.

Contractor is an affiliate of Guarantor. Guarantor will derive direct and
indirect benefit from the making of the Guaranty.

NOW, THEREFORE, for good and valuable consideration, Guarantor hereby covenants
and agrees as follows:

1.       Guarantor hereby unconditionally guarantees the full and timely
         performance by Contractor of all of its obligations under the EPC
         Agreement, as it from time to time may be amended, and hereby
         undertakes that if Contractor shall in any respect fail to perform and
         observe all of the terms, provisions, conditions, and stipulations of
         the EPC Agreement, Guarantor warrants the faithful performance of all
         of such terms and conditions and will fully indemnify and keep
         indemnified Owner against all claims, losses, damages, costs and
         expenses whatsoever which Owner may incur by reason of Contractor's
         failure to perform and observe any of the terms, provisions,
         conditions, and stipulations of the EPC Agreement and in addition
         against all claims, losses, damages, costs and expenses which Owner may
         incur by reason of Contractor's breach of any other duty to Owner,
         (collectively the "Guaranteed Obligations"). THE OBLIGATIONS OF
         GUARANTOR HEREUNDER SHALL NOT BE REDUCED, LIMITED OR TERMINATED, NOR
         SHALL THE GUARANTOR BE DISCHARGED FROM ANY THEREOF, FOR ANY REASON
         WHATSOEVER (other than, the payment, observance and performance of the
         Guaranteed Obligations and other than as provided in Section 9 of this
         Guaranty), including (and whether or not the same shall have occurred
         or failed to occur once or more than once and whether or not Guarantor
         shall have received notice thereof):

         (a)      (i) any increase in, (ii) any extension of the time of
                  payment, observance or performance of, (iii) any other
                  amendment or modification of any of the other terms and
                  provisions of, (iv) any release, composition or settlement
                  (whether by way of acceptance of a plan of reorganization or
                  otherwise) of, (v) any subordination (whether present or
                  future or contractual or otherwise) of, or (vi) any discharge,
                  disallowance, invalidity, illegality, voidness or other
                  unenforceability of, the Guaranteed Obligations;

<PAGE>

         (b)      (i) any failure to obtain, (ii) any release, composition or
                  settlement of, (iii) any amendment or modification of any of
                  the terms and provisions of, (iv) any subordination of, or (v)
                  any discharge, disallowance, invalidity, illegality, voidness
                  or other enforceability of, any other guaranties of the
                  Guaranteed Obligations;

         (c)      any termination of or change in any relationship between
                  Guarantor and Contractor, including any such termination or
                  change resulting from a change in the ownership of Guarantor
                  or from the cessation of any commercial relationship between
                  Guarantor and Contractor;

         (d)      any exercise of, or any election not or failure to exercise,
                  delay in the exercise of, waiver of, or forbearance or other
                  indulgence with respect to, any right, remedy or power
                  available to Owner, including (i) any election not or failure
                  to exercise any right of set-off, recoupment or counterclaim,
                  and (ii) any election of remedies effected by Owner, and

         (e)      ANY OTHER ACT OR FAILURE TO ACT OR ANY OTHER EVENT OR
                  CIRCUMSTANCE THAT (i) VARIES THE RISK OF GUARANTOR HEREUNDER
                  OR (ii) BUT FOR THE PROVISIONS HEREOF, WOULD, AS A MATTER OF
                  STATUTE OR RULE OF LAW OR EQUITY, OPERATE TO REDUCE, LIMIT OR
                  TERMINATE THE OBLIGATIONS OF THE GUARANTOR HEREUNDER OR
                  DISCHARGE GUARANTOR FROM ANY THEREOF.

2.       Guarantor represents and warrants to Owner and Owner's successors and
assigns that:

         (a)      Guarantor is duly organized and validly existing as a Delaware
                  corporation;

         (b)      Guarantor directly or indirectly owns all of the issued and
                  outstanding shares of the capital stock of Contractor;

         (c)      Guarantor is authorized and has all necessary power and
                  authority, corporate and other, to execute and deliver this
                  Guaranty and to perform the obligations of Guarantor,
                  including all obligations of Contractor pursuant to the EPC
                  Agreement, this Guaranty reasonably may be expected to benefit
                  directly or indirectly, Guarantor, and this Guaranty has been
                  duly executed and delivered by Guarantor and is the valid,
                  binding, and enforceable contract of Guarantor, and;

         (d)      The execution and delivery of this Guaranty by Guarantor and
                  its performance of its obligations under the Guaranty, do not
                  (and, to the best of Guarantor's knowledge, will not) conflict
                  with any law, rule or regulation, or any agreement,
                  instrument, indenture, deed or any other restriction, to which
                  Guarantor is subject or a party, or accelerate or affect any
                  of its obligations under any thereof.

                                       2
<PAGE>

3.       Guarantor shall cause Contractor to duly and timely perform all of the
         Guaranteed Obligations including the obligations of Contractor under
         the EPC Agreement, as it may from time to time be amended.

4.       The obligations of Guarantor hereunder include, without limitation, all
         liabilities for liquidated or similar damages and warranty obligations
         of Contractor.

5.       Owner may enforce against Guarantor any and all of the rights of Owner
         under this Guaranty without having instituted or completed any legal,
         arbitration or other proceedings against Contractor.

6.       This Guaranty shall be governed by and construed according to the laws
         of the State of Texas. Guarantor designates Zachry Construction
         Corporation, a Delaware corporation, as agent for service of process in
         any action by Owner under this Guaranty, submits to personal
         jurisdiction in the State of Texas and further agrees that the
         non-exclusive venue for any such action may be Texas.

7.       Guarantor waives: (a) any requirement, and any right to require, that
         any right or power be exercised or any action be taken against the
         Contractor, or any other guarantor or any collateral for the Guaranteed
         Obligations; (b) (i) notice of acceptance of and intention to rely on
         this Agreement, and (ii) all other notices that may be required by
         Applicable Law or otherwise to preserve any rights against Guarantor
         under this Agreement, including any notice of default, demand,
         dishonor, presentment and protest; and, (c) diligence.

8.       Guarantor shall not assert any right to set off against claims by Owner
         hereunder other than claims which Contractor has a right to set off
         under the EPC Agreement.

9.       Notwithstanding any other provision to the contrary set forth herein,
         Guarantor retains the right to assert any and all claims, defenses and
         limitations of liability possessed by Contractor under the terms of the
         EPC Agreement (including without limitation, Section 14.2 of the EPC
         Agreement, but excluding any defense based upon absence of binding
         effect of the EPC Agreement) or arising from the parties' performance
         or failure to perform thereunder.

10.      Guarantor's obligations hereunder (a) are absolute and unconditional,
         (b) subject to Section 9 above, are unlimited in amount, (c) constitute
         a guaranty of payment and performance and not a guaranty of collection,
         (d) are as primary obligor and not as a surety only (e) shall be a
         continuing guaranty of all present and future Guaranteed Obligations
         and (f) shall be irrevocable.

11.      This Guaranty may be assigned by Owner to Owner's lenders for the
         project and shall inure to the benefit of such assignee(s).

12.      Notice to Guarantor shall be to:

                                       3
<PAGE>

                  H.B. Zachry Company
                  527 Logwood (78221-1738)
                  P.O. Box 240130
                  San Antonio, TX 78224-0130
                  Attn: R.J. Kalt
                  Telefax: (210) 458-8572
                  Telephone: (210)458-8050

         With a copy to:

                  Murray L. Johnston, Jr.
                  General Counsel
                  310 S. St. Mary's Street, Suite 2600
                  San Antonio, TX 78205
                  Telefax: (210) 258-2699
                  Telephone: (210)258-2600

         IN WITNESS WHEREOF, Guarantor has caused this Guaranty to be executed
and delivered to Owner in the name and on behalf of Guarantor by one of its
officers who is duly authorized to do so, for the benefit of Owner, as of this
22nd day of October, 1999.

                                    Guarantor
                                    H. B. Zachry Company

                                    By: /S/________________________
                                                     (Name)

                                             VICE PRESIDENT
                                           ------------------------
                                                 (Title)

ATTEST:

By: /S/________________________
Title: Assistant Secretary

                                       4
<PAGE>

                          CERTIFIED COPY OF RESOLUTION

         "RESOLVED: H. B. Zachry Company ("Guarantor") is authorized to provide
a Guaranty of the obligations of Zachry Construction Corporation, a Delaware
corporation ("Contractor"), to Tenaska Georgia Partners, L.P., a Delaware
limited partnership ("Owner") in connection with the agreement between Tenaska
Georgia I, L.P., a Delaware limited partnership, and Contractor for the
construction of the Tenaska Georgia Generation Station in Heard County, Georgia,
which agreement has subsequently been assigned to Owner with the consent of
Contractor. Guarantor states and acknowledges that such Guaranty reasonably may
be expected to benefit, directly or indirectly, Guarantor."

                                   ***********

         I, Murray L. Johnston, Jr., certify that I am the Secretary of H. B.
Zachry Company, a Delaware corporation.

         I certify that:

         (1)      The resolution quoted above was adopted on September 13, 1999
                  by Unanimous Written Consent of the Executive Committee of the
                  Board of Directors.

         (2)      This action of the Executive Committee of this corporation may
                  be taken without a meeting if all of the members of the
                  Executive Committee consent in writing.

         (3)      The signed Consent has been filed in the minute book of the
                  corporation.

         (4)      I have compared the resolution quoted above with the
                  resolution in the minute book and verify that the language is
                  identical.

         (5)      The resolution has not been revoked or amended and is now in
                  full force and effect.

         SIGNED AND SEALED on behalf of the corporation October 22, 1999.

                                        [SEAL]   ______________________________
                                                 Murray L. Johnston, Jr.
                                                 Secretary
ZACHRYGUARANTY

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00001-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00001-of-00352.parquet"}]]