NorthWestern Energy Announces Agreement With Data Center Developer in Montana

SIOUX FALLS, S.D. & BUTTE, Mont.--(BUSINESS WIRE)-- NorthWestern Energy Group, Inc. d/b/a NorthWestern Energy (Nasdaq: NWE) is pleased to announce it signed a letter of intent to provide energy services for a developer planning new data centers in Montana. The centers will be served as part of NorthWestern Energy’s regulated business, which is expected to lower the cost per customer to operate NorthWestern’s Montana generation resources. The energy service load is expected to be a minimum 50 megawatts, beginning in 2027, with growth to 250 megawatts or more by 2029.

“NorthWestern Energy’s strategic resource acquisitions and diverse generation portfolio position us as a pivotal economic partner in Montana,” said NorthWestern Energy President and CEO Brian Bird. “As a regulated energy company, we offer reliable power from a clean energy portfolio at competitive rates, making Montana an attractive destination for new businesses and industries. This collaboration underscores NorthWestern Energy’s commitment to economic development, innovation and excellence in energy service delivery.”

Today, NorthWestern Energy is one of the cleanest energy companies in the nation, with most of the company’s power generation from hydro, wind and solar resources. NorthWestern Energy’s recent addition of on-demand energy generation from the Yellowstone County Generating Station and the anticipated additional capacity from the Colstrip Plant, starting January 2026, strengthens its ability to serve existing and new Montana electric customers reliably at lower customer costs.

“This investment in Montana is a significant milestone for our state’s economic growth and technological advancement, possible because of work done to provide more certainty for data center developers,” said Paul Green, Director of the Montana Department of Commerce. “Reliable energy service is a critical component in this effort. This development will create new jobs, increase the state’s tax base and demonstrates how Montana’s open-for-business mindset and pro-growth programs are driving the state’s prosperity.”

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NorthWestern Energy - Delivering a Bright Future

NorthWestern Energy Group, Inc., doing business as NorthWestern Energy, provides essential energy infrastructure and valuable services that enrich lives and empower communities while serving as long-term partners to our customers and communities. We work to deliver safe, reliable, and innovative energy solutions that create value for customers, communities, employees, and investors. We do this by providing low-cost and reliable service performed by highly-adaptable and skilled employees. We provide electricity and / or natural gas to approximately 775,300 customers in Montana, South Dakota, Nebraska, and Yellowstone National Park. Our operations in Montana and Yellowstone National Park are conducted through our subsidiary, NW Corp, and our operations in South Dakota and Nebraska are conducted through our subsidiary, NWE Public Service. We have provided service in South Dakota and Nebraska since 1923 and in Montana since 2002.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241217611745/en/

Investor Relations Contact:

Travis Meyer (605) 978-2967

travis.meyer@northwestern.com

Media Contact:

Jo Dee Black (866) 622-8081

jodee.black@northwestern.com

Source: NorthWestern Energy Group, Inc.

FAQ

What is the size of NorthWestern Energy's (NWE) new data center power agreement in Montana?

The agreement starts with a minimum 50 megawatts load in 2027, growing to 250 megawatts or more by 2029.

How will the new data center agreement affect NWE's customer costs?

The agreement is expected to lower the cost per customer to operate NorthWestern's Montana generation resources.

When will NWE's Colstrip Plant additional capacity become operational?

The Colstrip Plant additional capacity is anticipated to start in January 2026.

What types of energy sources comprise NWE's generation portfolio?

NorthWestern Energy's portfolio primarily consists of hydro, wind, and solar resources, along with the Yellowstone County Generating Station and Colstrip Plant.

What economic benefits will the NWE data center project bring to Montana?

The project will create new jobs, increase the state's tax base, and contribute to Montana's economic growth and technological advancement.