NWE - NorthWestern plans $250M Montana nat gas plant in bid to boost capacity

NorthWestern Energy ([[NWE]] -0.3%) says it entered into multiple contracts for projects to acquire 325 MW of dispatchable capacity resources, which will address more than half of the company's deficit in its supply portfolio serving Montana.As part of its plan to boost long-term capacity resources, NorthWestern says it will seek approval to build a new $250M, 175 MW natural gas plant in Laurel, Montana, to be available to serve customers by January 2024.Other projects would include a pending agreement to buy into a 50 MW battery storage project and a five-year power purchase deal with BC Hydro for 100 MW of hydroelectric power.The projects aim to help NorthWestern increase available power resources as other resources look to retire; the company owns a 30% stake in the Colstrip coal-fired unit 4 plant, which likely is nearing the end of its life.

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NorthWestern plans $250M Montana nat gas plant in bid to boost capacity