NorthWestern Energy Group Stock Rises on News from Merging Partner Black Hills
On Wednesday, NorthWestern Energy Group (NWE) saw its stock rise over 7% due to positive news involving its merger partner, Black Hills. The latter announced a long-term agreement with Alphabet's Google to supply power for a data center in Wyoming through 2048. The deal involves supplying up to 590 megawatts of energy from Black Hills' own assets and an additional amount via third-party resources. Black Hills plans to invest $1.8 billion between 2026 and 2029, expecting the agreement to add around $150 million in net income by 2030 and generate approximately $2.4 billion in unlevered free cash flow. The merger of NorthWestern and Black Hills is expected to close before year-end after being approved by both companies' boards and shareholders. The partnership highlights the growing demand for reliable power sources as tech firms expand AI data centers, which require significant energy inputs.
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Topics: Black Hills Data Centers Energy Google Utilities