#United States #Bismarck #Wind Energy #MDU Resources #Badger Wind Farm

MDU Resources' Strategic Investment in Badger Wind Farm

MDU Resources Group, Inc. (NYSE: MDU) has recently made headlines with its ambitious plans for the Badger Wind Farm, a project that aims to empower its customers with cost-effective energy solutions. With the public approval from the North Dakota Public Service Commission (NDPSC), MDU plans to acquire a 49% interest in this promising wind project, which is currently under construction near Wishek, North Dakota.

Key Approvals Secured

MDU's subsidiary, Montana-Dakota Utilities Co. (MDU), has been granted an Advanced Determination of Prudence (ADP) along with a Certificate of Public Convenience and Necessity (CPCN). This endorsement serves as a validation of MDU's strategic investment, not just from regulatory angles but also in terms of long-term financial benefits for its customers. Nicole Kivisto, president and CEO of MDU Resources, emphasized the significance of these approvals, asserting that they are pivotal in providing reliable, affordable energy to the community.

Project Scope and Financial Viability

The Badger Wind project is poised to play a crucial role in enhancing renewable energy capacity in the region. The project's estimated investment stands at approximately $294 million, focusing on a 122.5 MW stake within the broader 250 MW wind project. Interestingly, the NDPSC has approved investments up to $295.5 million for the project's financial framework, thereby offering a safety net that solidifies the project's viability. This includes provision for internal costs amounting to $1.5 million, seamlessly integrated into the overall project budget.

The project is anticipated to reach completion by late 2025, potentially setting up MDU as a significant player in North Dakota's renewable energy landscape. The momentum being generated by these investments is expected to translate into long-term savings on energy bills for customers, reflecting MDU's commitment to financial prudence coupled with sustainability.

A Legacy of Service

With over a century of experience, MDU Resources Group has long been a trusted provider of safe and efficient electric utility and natural gas distribution services. Serving more than 1.2 million customers across the Pacific Northwest and Midwest, the company is recognized for its dedicated services and commitment to sustainability. Alongside its utility operations, MDU also manages an extensive 3,800-mile natural gas pipeline network, ensuring a reliable energy supply across the Northern Plains.

MDU's efforts are not just focused on expanding their operational footprint; they are also committed to energizing lives for a brighter future. By investing in renewable energy projects like the Badger Wind Farm, they are positioning themselves as leaders in providing sustainable energy solutions that are in sync with customer needs and environmental responsibilities.

Conclusion: Looking Forward

As MDU Resources Group takes this significant step forward, the anticipation surrounding the Badger Wind project underscores a growing imperative for renewable energy solutions. The approvals granted to MDU mark a transformative moment for both the company and the community, promising not just reliable energy but also a greener future. Stakeholders and consumers alike will be keen to follow the project's progress as it unfolds over the coming years, highlighting what could be a turning point in the region's energy landscape. For further information, interested parties can visit MDU's official website or contact their investor relations team directly.