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  • NorthWestern Energy files to acquire 11 hydropower plants

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    Utility company NorthWestern Energy has submitted a formal request to the Montana Public Service Commission for the purchase of 11 hydroelectric power projects and related assets from PPL Montana.

    PPL Montana, a subsidiary of the PPL Corporation (NYSE: PPL), announced the deal in September, saying it was still subject to pending approvals by the Montana Public Service Commission and Federal Energy Regulatory Commission (FERC).

    Included in the US$900 million acquisition are the Thompson Falls Dam on the Clark Fork River; Kerr Dam on the Flathead River; Madison Dam on the Madison River; Hauser, Holter, Black Eagle, Rainbow, Cochrane, Ryan and Morony dams along the Missouri River; and Mystic Lake Dam on West Rosebud Creek.

    NorthWestern Energy (NYSE: NWE) said the filing outlines various long-term customer benefits, while also confirming commitments to proceed with the transfer of Kerr Dam to the Confederated Salish and Kootenai Tribes.

    The projects have a combined output capacity of about 633 MW.

    The companies said they expect to close in the third quarter of 2014.

    For more business and transaction news, visit here.

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    01/01/2014
    Volume 22, Issue 1
    1401hrw-cvr

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