AVA - Avista signs renewable natural gas deal

2023-04-11 18:16:34 ET

Avista ( NYSE: AVA ) said Tuesday it signed an agreement with Pine Creek RNG to buy renewable natural gas to be produced from projects in Washington and Iowa; financial details were not disclosed.

The contract follows Avista's ( AVA ) request for proposal last October to secure RNG resources for its customers over the long term.

In Washington, Pine Creek plans to begin construction of a landfill and potato processing plant in Richland, which are expected to produce a combined 2.5M therms/year of RNG after anticipated completion by the end of this year.

In Iowa, a project at the Black Hawk County Landfill in Waterloo is expected to begin producing 2.6M therms/year beginning in 2024.

Avista ( AVA ) enjoys remarkably stable cash flows over time, which gives it a degree of stability that investors may find comforting, but the stock looks rather pricy compared to peers, Power Hedge writes in an analysis published recently on Seeking Alpha .

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