NorthWestern acquires 9.7MW Two Dot Wind Farm in Montana for $18.5M
NorthWestern Energy has reached an agreement to acquire Two Dot Wind Farm LLC, a 9.7-megawatt wind project near the central Montana community of Two Dot for a purchase price of $18.5 million. Pending approval by the Federal Energy Regulatory Commission, the transaction is anticipated to close sometime in late April and is expected to be nominally accretive to net income but neutral to earnings per share in 2018. The purchase agreement is with NJR Clean Energy Ventures. While the remaining terms of the agreement were not immediately disclosed, NorthWestern's Montana customers will enjoy lower energy costs from the project as a result of the purchase. In addition to lowering customers' costs, NorthWestern also anticipates that the purchase of Two Dot Wind will help it comply with the Community Renewable Energy Project component of Montana's Renewable Portfolio Standard. NorthWestern currently buys the energy produced by the wind project under a Qualifying Facilities agreement. With this purchase agreement, NorthWestern anticipates continuing to include the electricity produced at this project in its regulated portfolio that serves Montana customers.