NorthWestern acquires hydroelectric facilities from PPL for $900M

|About: NorthWestern Corporation (NWE)|By:, SA News Editor

NorthWestern Energy (NWE) agrees to acquire 11 hydroelectric facilities representing 633 MWs of generation, one storage reservoir, and related assets from PPL Corp. (PPL) subsidiary PPL Montana for $900M.

NWE the deal will allow it to reduce its reliance on third-party power purchase agreements and spot market purchases, more closely matching its electric generation resources with forecast customer demand.

Also, PPL Montana says it will pay $271M to terminate a sale-leaseback arrangement for its interest in the Colstrip coal-fired facility.