MDU Resources Group announces plans for new wind project, wind expansion
12/17/2008
Bismarck, ND
MDU Resources Group, Inc. (NYSE:MDU) announced today that its utility division Montana-Dakota Utilities Co. has plans to develop a 19.5 megawatt wind generation facility in southwest North Dakota. The wind project will be located on leased land approximately five miles west of Rhame, N.D.
Montana-Dakota also announced plans to expand its Diamond Willow wind facility by an additional 10.5 MW. Diamond Willow, which went online in late 2007, is located near Baker, Mont. The expansion project will include seven additional wind turbines on existing leased land, and increase the capability of the site to 30 MW.
Both projects are pending regulatory approval.
“We are excited about expanding our wind generation portfolio, and are very pleased to find a location in southwest North Dakota for a site,” said Dave Goodin, president and chief executive officer of Montana-Dakota Utilities. “This further diversifies our electric generation as we build out to meet our customer need.”
The North Dakota site will feature 13 turbines and is located close to a Montana-Dakota transmission line for interconnection. The additional generation from both projects will provide the needs of about 10,000 average homes of Montana-Dakota customers in Montana, North Dakota and South Dakota.
Both projects are scheduled to be commercial in late 2009. When finished, Montana-Dakota will have nearly $125 million invested in wind generation and other renewable projects to serve its electric customers in Montana, North Dakota and South Dakota.
The information in this release includes forward-looking statements, including statements by the president and chief executive officer of Montana-Dakota Utilities Co. regarding plans to develop a wind generation facility in southwest North Dakota and expansion of the Diamond Willow wind generation facility in Montana, within the meaning of Section 21E of the Securities Exchange Act of 1934. Although the company believes that its expectations are based on reasonable assumptions, actual results may differ materially. Important factors that could cause actual results to differ materially from those in the forward-looking statements include the ability to obtain necessary regulatory approvals; timely receipt of necessary permits and approvals; market demand for, and/or available supplies of, energy-related products and services; and unanticipated project delays. For a discussion of other important factors that could cause actual results to differ, refer to Item 1A – Risk Factors in MDU Resources’ most recent Form 10-K and Form 10-Q.
MDU Resources Group, Inc., a member of the S&P MidCap 400 index, provides value-added natural resource products and related services that are essential to energy and transportation infrastructure, operating in three core lines of business: energy, construction materials and utility resources. MDU Resources includes natural gas and oil production, natural gas pipelines and energy services, construction materials and contracting, construction services, and electric and natural gas utilities. For more information about MDU Resources, see the company's Web site at www.mdu.com or contact the Investor Relations Department at investor@mduresources.com
Contacts:
Financial:
Vernon A. Raile
Executive Vice President, Treasurer and Chief Financial Officer
(701) 530-1003
Phyllis A. Rittenbach
Director of Investor relations
(701) 530-1057
Media: Mark Hanson
Senior Public Relations Representative
(701) 530-1093
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