NorthWestern Energy Signs Memorandum of Understanding with Compass Wind

Dec 17, 2010, 17:11 ET from NorthWestern Energy

BUTTE, Mont., Dec. 17, 2010 /PRNewswire-FirstCall/ -- NorthWestern Energy (NYSE: NWE) has signed a memorandum of understanding to purchase a 25-megawatt wind project in central Montana to be developed by Compass Wind.

The project, which was submitted to NorthWestern in response to a 2009 community renewable resource solicitation, is consistent with recent Montana legislation that provides for the reintegration of the utility.  The Spion Kop wind project is intended to be placed into the Montana utility's rate base with both the energy and associated renewable energy credits used to meet future renewable portfolio standards obligations.

The development timeline anticipates the execution of a definitive agreement in the first quarter of 2011 followed by the submission of an application for pre-approval by the Montana Public Service Commission with an anticipated decision early in 2012. Construction would commence upon a favorable ruling with commercial operation anticipated by the end of 2012.

About NorthWestern Energy

NorthWestern Energy provides electricity and natural gas in the Upper Midwest and Northwest, serving approximately 661,000 customers in Montana, South Dakota and Nebraska. More information on NorthWestern Energy is available on the Company's Web site at www.northwesternenergy.com.

About Compass Wind

Compass Wind, a community-based wind project developer in the western US, was formed in 2007 to build smaller utility-scale wind projects. Currently, Compass has a number of active projects in the Mountain States region with an established pipeline of approximately 800 megawatts.

SOURCE NorthWestern Energy



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