PUEBLO, Colo. - May 1, 2018 - Black Hills Corp. (BKH) today announced its power generation subsidiary, Black Hills Electric Generation, LLC, was selected to provide renewable energy from a new 60-megawatt wind farm for its affiliated utility Colorado Electric.
The wind project was selected through a rigorous competitive solicitation process conducted by Colorado Electric and overseen by an independent evaluator approved by the Colorado Public Utilities Commission. The addition of 60 megawatts of eligible energy resources was part of Colorado Electric`s commission-approved 2016 Electric Resource Plan.
On April 25, Colorado Electric received approval from the commission to contract with Black Hills Electric Generation to purchase 60 megawatts of wind energy through a 25-year power purchase agreement.
"This renewable energy contract is a critical step for our Colorado Electric utility to comply with the state renewable energy mandate," said Linn Evans, president and chief operating officer of Black Hills. "The contract will provide Colorado Electric`s utility customers cost-effective renewable energy. Construction of the wind farm will provide economic development opportunities for southern Colorado."
The $71 million Busch Ranch II wind project is expected to be constructed and in service by the end of 2019. The project will be built near Colorado Electric`s Busch Ranch Wind Farm in Huerfano and Las Animas counties, Colorado, southeast of Pueblo.
Black Hills Corporation
Black Hills Corp. (BKH) is a customer focused, growth-oriented utility company with a tradition of improving life with energy and a vision to be the energy partner of choice. Based in Rapid City, South Dakota, the company serves 1.2 million natural gas and electric utility customers in eight states: Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. More information is available at www.blackhillscorp.com, www.blackhillscorp.com/corporateresponsibility and www.blackhillsenergy.com.
Jerome E. Nichols
24-Hour Media Assistance
Caution Regarding Forward Looking Statements
This news release includes "forward-looking statements" as defined by the Securities and Exchange Commission, or SEC. We make these forward-looking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this news release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward looking statements, including our ability to construct and place in service the wind project in a timely and cost effective manner. These forward-looking statements are based on assumptions which we believe are reasonable based on current expectations and projections about future events and industry conditions and trends affecting our business. However, whether actual results and developments will conform to our expectations and predictions is subject to a number of risks and uncertainties that, among other things, could cause actual results to differ materially from those contained in the forward-looking statements, the risk factors described in Item 1A of Part I of our 2017 Annual Report on Form 10-K filed with the SEC, and other reports that we file with the SEC from time to time.
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Source: Black Hills Corporation via GlobeNewswire