- Category: U.S. Business
- Published: Thursday, 09 April 2009 15:54
- Written by Press Room
- Hits: 1395
MDU Resources Group, Inc. (NYSE:MDU) announced today that its utility division purchased a share of a Wyoming power plant. Montana-Dakota Utilities Co. signed a purchase agreement with Black Hills Power for a 25 percent ownership interest in the Wygen III power generation facility. The coal-fired plant is under construction near Gillette, Wyo., and will have a net production of 100 megawatts.
"This agreement provides our electric customers in Wyoming an economic base load source of electric generation," said MDU Resources Group president and chief executive officer Terry D. Hildestad. "This will replace a portion of the purchase power agreement currently in place."
Montana-Dakota will own 25 MW of the plant, which is scheduled to be completed and online in June 2010. Montana-Dakota's current purchase power agreement is also with Black Hills Power.
"Our purchase of an interest in the Wygen III facility will benefit our electric customers by providing them with competitively priced energy for years to come," said David L. Goodin, president and chief executive officer of Montana-Dakota Utilities.
Montana-Dakota has approximately 14,800 electric customers in northeast Wyoming.