Black Hills Corp. Electric Utilities Receive Approvals for Renewable Ready Service Tariffs and $57 Million Wind Generation Project
Source: Nasdaq GlobeNewswire / 08 Jul 2019 16:30:26 America/New_York
RAPID CITY, S.D., July 08, 2019 (GLOBE NEWSWIRE) -- Black Hills Corp. (NYSE: BKH) announced that its South Dakota Electric and Wyoming Electric subsidiaries, doing business as Black Hills Energy, received approvals from the South Dakota Public Utilities Commission and Wyoming Public Service Commission for new, voluntary renewable energy tariffs. In addition, the Wyoming commission also approved a joint application by the two electric utilities for a Certificate of Public Convenience and Necessity to build a $57 million, 40-megawatt wind generation project.
The Renewable Ready Service Tariffs will provide large commercial and industrial customers and governmental agencies in South Dakota and Wyoming a cost-effective option to purchase utility-scale renewable energy from Black Hills Energy for up to 100 percent of their electric energy needs.
The $57 million project, known as the Corriedale Wind Energy Project, will be jointly owned by the South Dakota and Wyoming electric utilities. The wind facility will provide renewable energy to meet commitments under the Renewable Ready tariffs. Black Hills Energy will conduct an open period for subscribers to the Renewable Ready program later this year and, based upon early indications of interest from customers, expects to fully subscribe the 40 megawatts of capacity of the Corriedale Wind Energy Project. The wind facility will be located near Cheyenne, Wyoming, and is expected to be constructed and placed in service in late 2020.
“We are pleased to receive approval to deliver new renewable energy solutions for our customers,” said Linden “Linn” R. Evans, president and CEO of Black Hills Corp. “The Renewable Ready program provides our customers an excellent choice for the long-term delivery of cost-effective, utility-scale renewable energy. The new Renewable Ready program is another example of how Black Hills Energy is developing creative and innovative solutions in response to evolving customer needs, particularly around cleaner and more sustainable energy requirements.”
Black Hills Corporation
Black Hills Corp. (NYSE: 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 1.27 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.
Jerome E. Nichols
24-Hour Media Relations Line
Caution Regarding Forward Looking Statement
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. This includes our ability to build the wind energy project on budget and on schedule and to provide renewable energy to meet the commitments under the Renewable Ready tariffs. 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 2018 Annual Report on Form 10-K filed with the SEC, and other reports that we file with the SEC from time to time.
New factors that could cause actual results to differ materially from those described in forward looking statements emerge from time-to-time, and it is not possible for us to predict all such factors, or the extent to which any such factor or combination of factors may cause actual results to differ from those contained in any forward-looking statement. We assume no obligation to update publicly any such forward-looking statements, whether as a result of new information, future events or otherwise.