Offshore Wind Projects Receive Boost from Massachusetts and Biden Administration

LCG, March 31, 2021--The Governor of Massachusetts signed legislation last Friday that authorizes the state to direct utilities to purchase an additional 2,400 MW of offshore wind energy by 2027.

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NV Energy's Greenlink Nevada Transmission Project Approved by PUCN

LCG, March 25, 2021--The Public Utilities Commission of Nevada (PUCN) on Monday approved proceeding with NV Energy's Greenlink Nevada transmission and renewable energy initiative. NV Energy's planned investment in Greenlink is over $2.5 billion.

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Industry News

Montana Power to Sell the Last of its Energy Assets

LCG, Oct. 2, 2000Montana Power Co. said this morning that it would sell its electric transmission and distribution businesses to NorthWestern Corp. for $1.1 billion. Montana Power will need a new name, because NorthWestern is buying that, too.

Sioux Falls, S.D.-based NorthWestern, parent company of NorthWestern Public Service Co., will pay $612 million in cash and assume $488 million of debt to acquire Montana Power's wires and natural gas lines, adding about 288,000 electricity and 151,000 natural gas customers.

NorthWestern said the deal would be immediately beneficial to earnings. Upon completion of the transaction, it will serve more than 575,000 electricity and gas customers in Montana, South Dakota and Nebraska.

Bob Gannon, Montana Power's chief executive, said "The cash proceeds from these sales, totaling some $1.3 billion, will be reinvested in Touch America, our telecommunications subsidiary, which is a national long-haul broadband data, voice and video transport company."

Richard R. Hylland, president and chief operating officer of NorthWestern, said "We are delighted to welcome the Montana Power team into the NorthWestern family and look forward to working together to achieve extraordinary growth and success for our customers."

NorthWestern said it expected to maintain the Butte headquarters of Montana Power's distributionbusinesses and would continue to use the name Montana Power Co. in that company's service territory.

The transaction is conditioned upon, among other things, approvals from the Montana Public Service Commission, Montana Power shareholders, and the Federal Energy Regulatory Commission.

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