NorthWestern Energy Signs Asset Purchase Agreement With Compass Wind, Purchase Price Equals $77.9M (NWE)

NorthWestern Energy NWE has signed an asset purchase agreement to purchase a projected aggregate nameplate capacity of 40-megawatt wind project in Judith Basin County in Montana to be developed and constructed by Spion Kop Wind, LLC, a wholly-owned subsidiary of Compass Wind. This project, known as the Spion Kop Wind Project, consistent with recent Montana legislation that provides for the reintegration of the utility, is intended to be placed into utility rate-base for NorthWestern's Montana electric retail customers.  Both the energy and associated renewable energy credits will be placed into the electric supply portfolio and used to meet future renewable portfolio standards obligations. The purchase price is $1,947 per kW for each kW of the total nameplate capacity included in the Project, which is equal to $77,880,000.