Black Hills Corporation (NYSE:BHK) recently announced that its Black Hills Colorado IPP (BHCI) subsidiary was selected through a competitive bid process as the least-cost option to provide 200 MW of power to the Black Hills Energy-Colorado Electric, a utility subsidiary of Black Hills Corp. BHCI will build the 200 MW of natural gas-fired electric generation in Colorado and sell the power to Black Hills Energy-Colorado Electric through a 20-year power purchase agreement.
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"We are pleased with the opportunity to add new generation capacity to serve the Black Hills Energy - Colorado Electric utility customers," said David R. Emery, chairman, president and chief executive officer of Black Hills Corporation(NYSE:BHK). "Our ability to build generation facilities on time and on budget is a core strength of our diversified energy company, and our experienced team has the proven ability to manage the planning and construction process to a successful result." The BHCI generation facility will consist of two 100-MW units, each with two 40-MW LM6000 natural gas-fired combustion turbines and one 20-MW steam turbine, operated in a combined cycle mode. The BHCI facility is expected to cost $240 to $265 million and should be completed and ready to deliver power by Jan. 1, 2012. The power purchase agreement between BHCI and Black Hills Energy - Colorado Electric is also subject to approval by the Federal Energy Regulatory Commission (FERC).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 Golden, Colo., and Omaha, Neb. The company serves 759,000 natural gas and electric utility customers in Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. Black Hills employees partner to produce results that improve life with energy.
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