Black Hills Corp. Highlights Advancements Toward a Cleaner Energy Future in Newly Released 2023 Sustainability Report

Rhea-AI Summary

Black Hills Corp. (NYSE: BKH) has released its 2023 Corporate Sustainability Report, underscoring significant environmental, social, and governance achievements. Since 2022, the company reduced greenhouse gas emissions from its natural gas distribution system by 27%. Additionally, electric utility emissions have been reduced by nearly one-third since 2005, with a goal to cut electric emissions intensity by 40% by 2030 and 70% by 2040. The Colorado Clean Energy Plan aims to add 400 MW of renewable energy and battery storage, targeting an 89% emissions reduction by 2030. The company is enhancing its renewable natural gas (RNG) infrastructure and expanding its Green Forward program. In 2023, Black Hills Corp. received a Wyoming Energy Authority grant to develop a pilot hydrogen plant at its Neil Simpson energy complex. The company's community support amounted to $6.1 million, with employees contributing $495,000 to United Way organizations. Black Hills Corp.'s 2023 direct economic impact was $1.35 billion.

RAPID CITY, S.D., June 26, 2024 (GLOBE NEWSWIRE) -- Black Hills Corp. (NYSE: BKH) today announced the release of its 2023 Corporate Sustainability Report, highlighting the company’s environmental, social and governance impacts and its progress on major projects and climate goals.

“Our mission of improving life with energy means we must be ready to make tomorrow even better than today,” said Linn Evans, president and CEO of Black Hills Corp. “I’m proud of the progress our team has made over the past year to deliver on this mission for all our stakeholders.”

Making strides in sustainability

Black Hills Corp. reported a 27% reduction in greenhouse gas emissions from its natural gas distribution system since 2022. This marks meaningful progress towards its goal to achieve net zero emissions by 2035. Additionally, the company has reduced its electric utility greenhouse gas emissions by nearly one third since 2005 and is on track to achieve its goal to reduce electric emissions intensity 40% by 2030 and 70% by 2040 compared to 2005.

“We're committed to creating a cleaner energy future that builds upon our responsibility to provide the safe, reliable and cost-effective energy that improves our customers’ lives,” said Evans. “We strongly believe that multiple energy sources, working together, will provide the solutions for a cleaner and resilient energy future.”

Additional report highlights include:

• Expanded clean energy resources: The Colorado Clean Energy Plan proposes to add 400 MW of renewable energy and battery storage to the system. The preferred plan will achieve an 89% reduction in GHG emissions by 2030 compared to 2005.
• Expanded renewable natural gas (RNG): The company grew its RNG presence through investment in additional infrastructure, while also expanding Green Forward, a voluntary RNG and carbon offset program, to all eligible residential and commercial natural gas customers.
• Innovation partnerships: In 2023, Black Hills Corp. received a Wyoming Energy Authority grant along with Babcock & Wilcox to partner on a first-of-its kind pilot hydrogen plant, which will convert coal to clean hydrogen at its Neil Simpson energy complex in Gillette, Wyoming.
• Caring for the community: The company’s community support totaled $6.1 million in 2023 and included energy assistance, grants and donations, scholarships and tree planting across the service territory. Black Hills employees gave $495,000 to more than 45 United Way organizations, which was matched 25% by the Black Hills Corp. Foundation.
• Creating value: The company’s investment in the safety, reliability and sustainability of its extensive utility systems delivers meaningful growth and sustains jobs, families and communities. In 2023, Black Hills Corp.’s direct economic impact totaled $1.35 billion.
  

Learn more about the company’s commitment to improving life with energy at blackhillsenergy.com/sustainability.

Black Hills Corp.
Black Hills Corp. (NYSE: BKH) is a customer focused, growth-oriented utility company with a tradition of improving life with energy and a vision to be the energy partner of choice. Based in Rapid City, South Dakota, the company serves 1.34 million natural gas and electric utility customers in eight states: Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. More information is available at www.blackhillscorp.com.

Investor Relations
Jerome E. Nichols
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jerome.nichols@blackhillscorp.com

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FAQ

What did Black Hills Corp. announce in their 2023 Sustainability Report?

Black Hills Corp. announced significant progress in reducing greenhouse gas emissions and advancing clean energy initiatives.

How much has Black Hills Corp. reduced its natural gas distribution system emissions since 2022?

Black Hills Corp. has reduced its natural gas distribution system emissions by 27% since 2022.

What are Black Hills Corp.'s goals for reducing electric utility emissions?

Black Hills Corp. aims to reduce electric emissions intensity by 40% by 2030 and 70% by 2040, compared to 2005 levels.

What does the Colorado Clean Energy Plan entail for Black Hills Corp.?

The Colorado Clean Energy Plan includes adding 400 MW of renewable energy and battery storage, with an 89% reduction in GHG emissions by 2030 compared to 2005.

How is Black Hills Corp. expanding its renewable natural gas (RNG) programs?

Black Hills Corp. is investing in additional RNG infrastructure and expanding the Green Forward program to all eligible customers.

What innovation partnership did Black Hills Corp. engage in 2023?

In 2023, Black Hills Corp. received a Wyoming Energy Authority grant to develop a pilot hydrogen plant at its Neil Simpson energy complex.

How much community support did Black Hills Corp. provide in 2023?

Black Hills Corp. provided $6.1 million in community support, including energy assistance, grants, donations, scholarships, and tree planting.

What was the direct economic impact of Black Hills Corp. in 2023?

Black Hills Corp.'s direct economic impact in 2023 was $1.35 billion.