Black Hills Corp. Electric Utilities Receive Approval to Upsize Renewable Ready Program and Related Wind Generation Project by 12.5 megawatts

RAPID CITY, S.D., Dec. 05, 2019 (GLOBE NEWSWIRE) -- Black Hills Corp. (NYSE: BKH) announced that its South Dakota Electric and Wyoming Electric utilities, doing business as Black Hills Energy, received approval from the South Dakota Public Utilities Commission to increase the offering under its Renewable Ready program by 12.5 megawatts and a determination from the Wyoming Public Service Commission that the proposed increase of the Corriedale Wind Energy Project to 52.5 megawatts is within commission rules. With these actions, Black Hills Energy will install five additional wind turbines, increasing the wind project from 40 megawatts to 52.5 megawatts and the project cost from $57 million to $79 million.

“We are pleased with the opportunity to expand our Renewable Ready program, allowing us to meet our customers’ interest in renewable wind energy,” said Linden “Linn” R Evans, president and CEO of Black Hills Corp. “This innovative program expands our clean energy portfolio while meeting our customers’ evolving needs, particularly around cleaner and more sustainable energy.”

During the initial subscription period for the Renewable Ready program, Black Hills Energy received applications of interest from eligible commercial, industrial and governmental agency customers in excess of the program’s 40 megawatts.

To meet this customer interest in renewable energy, South Dakota Electric requested to amend its Renewable Ready Service Tariff to allow for an additional 12.5-megawatts available through an expansion of the Corriedale Wind Energy Project. In addition, the two utilities requested a determination from the Wyoming commission that the utilities could increase the size of the Corriedale wind project pursuant to commission’s rules.

The 52.5-megawatt wind project will be built near Cheyenne, Wyoming, and is expected to be placed in service in late 2020.

Black Hills Corporation
Black Hills Corp. (NYSE: BKH) is a customer focused, growth-oriented utility company with a tradition of improving life with energy and a vision to be the energy partner of choice. Based in Rapid City, South Dakota, the company serves 1.27 million natural gas and electric utility customers in eight states: Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. More information is available at www.blackhillscorp.com.

Investor Relations
Jerome E. Nichols
605-721-1171
jerome.nichols@blackhillscorp.com

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Caution Regarding Forward Looking Statement
This news release includes “forward-looking statements” as defined by the Securities and Exchange Commission, or SEC. We make these forward-looking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this news release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward looking statements. This includes our ability to build the Corriedale wind project on schedule and on budget. These forward-looking statements are based on assumptions which we believe are reasonable based on current expectations and projections about future events and industry conditions and trends affecting our business. However, whether actual results and developments will conform to our expectations and predictions is subject to a number of risks and uncertainties that, among other things, could cause actual results to differ materially from those contained in the forward-looking statements, the risk factors described in Item 1A of Part I of our 2018 Annual Report on Form 10-K filed with the SEC, and other reports that we file with the SEC from time to time.

New factors that could cause actual results to differ materially from those described in forward looking statements emerge from time-to-time, and it is not possible for us to predict all such factors, or the extent to which any such factor or combination of factors may cause actual results to differ from those contained in any forward-looking statement. We assume no obligation to update publicly any such forward-looking statements, whether as a result of new information, future events or otherwise.