Black Hills Energy Issues Request for Proposals for 50 Percent Interest in 29 MW Wind Project

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  Published in Business and Finance on Monday, August 15th 2011 at 19:40 GMT by Market Wire
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Black Hills Energy Issues Request for Proposals for 50 Percent Interest in... -- PUEBLO, Colo., Aug. 15, 2011 /PRNewswire/ --

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PUEBLO, Colo., Aug. 15, 2011 /PRNewswire/ -- Black Hills Corp. (NYSE: [ BKH ]) utility subsidiary Black Hills Energy – Colorado Electric today issued a request for proposals for 50 percent ownership in Black Hills Energy's 29 megawatt wind project, to be located in Huerfano County, Colo. The Colorado Public Utilities Commission approved the project on Aug. 12, 2011, allowing Black Hills Energy to construct and own 50 percent of the wind project and authorized the company to conduct a competitive solicitation for ownership of the other 50 percent of the project.

The request for proposal, bid forms and other materials are available online and can be accessed at [ www.blackhillscorp.com/BHErfp.htm ]. Black Hills Energy invites proposals from all potential investors who are capable of meeting the specified conditions contained in the utility's RFP to acquire 50 percent interest in the facility.

"We are pleased that the Colorado PUC has approved this critical wind project as we move forward with the securing of the remaining permits and the RFP-based selection of the remaining 50 percent ownership interest," said Christopher Burke, vice president of Colorado utility operations.

Currently, the 50 percent of the project subject to the RFP is owned by a wind developer and is subject to a Renewable Energy Purchase Agreement (REPA) with Black Hills Energy. If Black Hills Energy determines that a new REPA with more favorable terms is available based on proposals gathered during the solicitation process, then a replacement REPA will be executed with the alternative investor no later than Jan. 1, 2012.

The project, planned for completion in late 2012, will include 16 Vestas wind turbines and will serve Black Hills Energy's 94,000 customers in southern Colorado. It will create approximately 55 construction jobs for southern Colorado, as well as new and recurring tax revenues for Huerfano County.

Black Hills/Colorado Electric Utility Company, LP d/b/a Black Hills Energy

Black Hills Energy serves 94,000 electric customers in 21 southeastern Colorado communities and was ranked No. 6 in Total Solar Watts per Customers in Solar Electric Power Association's 2009 Utility Solar Rankings report. Black Hills Energy is a subsidiary of Black Hills Corp. (NYSE: BKH).

Black Hills Corporation

Black Hills Corp. — a diversified energy company with a tradition of exemplary service and a vision to be the energy partner of choice — is based in Rapid City, S.D., with corporate offices in Denver and Papillion, Neb. The company serves 762,000 natural gas and electric utility customers in Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. The company's non-regulated businesses generate wholesale electricity, produce natural gas, oil and coal, and market energy. Black Hills' 2,100 employees partner to produce results that improve life with energy. More information is available at [ www.blackhillscorp.com ].

SOURCE Black Hills Corp.

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