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NorthWestern Energy Announces Agreement With Data Center Developer in Montana

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NorthWestern Energy (Nasdaq: NWE) has signed a letter of intent to provide energy services for new data centers in Montana. The project will begin with a minimum 50 megawatts load in 2027, expanding to 250 megawatts or more by 2029. This development will be part of NorthWestern's regulated business, expected to reduce per-customer operating costs of Montana generation resources.

The company's clean energy portfolio, including hydro, wind, and solar resources, along with recent additions like the Yellowstone County Generating Station and upcoming Colstrip Plant capacity (starting January 2026), positions it to serve both existing and new customers reliably at lower costs. The project is anticipated to create new jobs and expand Montana's tax base.

NorthWestern Energy (Nasdaq: NWE) ha firmato una lettera di intenti per fornire servizi energetici per nuovi data center in Montana. Il progetto inizierà con un carico minimo di 50 megawatt nel 2027, espandendosi a 250 megawatt o più entro il 2029. Questo sviluppo sarà parte dell'attività regolamentata di NorthWestern, prevista per ridurre i costi operativi per cliente delle risorse di generazione del Montana.

Il portafoglio di energia pulita dell'azienda, che comprende risorse idroelettriche, eoliche e solari, insieme a recenti aggiunte come la Stazione di Generazione della Contea di Yellowstone e la capacità futura della Centrale di Colstrip (a partire da gennaio 2026), la posiziona per servire sia i clienti esistenti che quelli nuovi in modo affidabile a costi inferiori. Si prevede che il progetto creerà nuovi posti di lavoro e espanderà la base imponibile del Montana.

NorthWestern Energy (Nasdaq: NWE) ha firmado una carta de intención para proporcionar servicios energéticos a nuevos centros de datos en Montana. El proyecto comenzará con una carga mínima de 50 megavatios en 2027, expandiéndose a 250 megavatios o más para 2029. Este desarrollo será parte del negocio regulado de NorthWestern, que se espera reduzca los costos operativos por cliente de los recursos de generación de Montana.

El portafolio de energía limpia de la compañía, que incluye recursos hidroeléctricos, eólicos y solares, junto con adiciones recientes como la Estación Generadora del Condado de Yellowstone y la capacidad futura de la Planta de Colstrip (a partir de enero de 2026), la posiciona para servir a clientes existentes y nuevos de manera confiable y a menores costos. Se anticipa que el proyecto creará nuevos empleos y expandirá la base impositiva de Montana.

NorthWestern Energy (Nasdaq: NWE)는 몬태나에 새로운 데이터 센터를 위한 에너지 서비스를 제공하기 위해 의향서를 체결했습니다. 이 프로젝트는 2027년 50메가와트 최소 부하로 시작되어 2029년까지 250메가와트 이상으로 확장될 예정입니다. 이 개발은 NorthWestern의 규제 사업의 일환으로, 몬태나의 발전 자원에 대한 고객당 운영 비용을 줄일 것으로 예상됩니다.

회사의 청정 에너지 포트폴리오에는 수력, 풍력 및 태양광 자원이 포함되어 있으며, 최근 추가된 옐로우스톤 카운티 발전소와 2026년 1월부터 시작될 콜스트립 발전소의 용량이 합쳐져 신규 및 기존 고객에게 신뢰할 수 있는 저렴한 비용으로 서비스를 제공할 수 있는 위치에 있습니다. 이 프로젝트는 새로운 일자리를 창출하고 몬태나의 세수 기반을 확장할 것으로 예상됩니다.

NorthWestern Energy (Nasdaq: NWE) a signé une lettre d'intention pour fournir des services énergétiques à de nouveaux centres de données dans le Montana. Le projet commencera avec une charge minimale de 50 mégawatts en 2027, s'étendant à 250 mégawatts ou plus d'ici 2029. Ce développement fera partie des activités réglementées de NorthWestern, attendu pour réduire les coûts d'exploitation par client des ressources de génération du Montana.

Le portefeuille d'énergie propre de l'entreprise, comprenant des ressources hydroélectriques, éoliennes et solaires, ainsi que des ajouts récents comme la centrale de génération du comté de Yellowstone et la capacité à venir de la centrale de Colstrip (commençant en janvier 2026), la positionne pour servir de manière fiable à moindre coût les clients existants et nouveaux. Ce projet devrait créer de nouveaux emplois et élargir la base fiscale du Montana.

NorthWestern Energy (Nasdaq: NWE) hat ein Absichtserklärung unterzeichnet, um Energiedienstleistungen für neue Rechenzentren in Montana bereitzustellen. Das Projekt wird mit einer minimalen Last von 50 Megawatt im Jahr 2027 beginnen und bis 2029 auf 250 Megawatt oder mehr anwachsen. Diese Entwicklung wird Teil des regulierten Geschäfts von NorthWestern sein, das voraussichtlich die Betriebskosten pro Kunde der Erzeugungsressourcen in Montana senken wird.

Das Unternehmen verfügt über ein Portfolio sauberer Energie, das Wasserkraft, Wind- und Solarressourcen umfasst. Zu den jüngsten Ergänzungen zählen das Kraftwerk Yellowstone County und die bevorstehende Kapazität des Colstrip Kraftwerks (ab Januar 2026), sodass es in der Lage ist, sowohl bestehenden als auch neuen Kunden zuverlässig zu niedrigeren Kosten zu dienen. Es wird erwartet, dass das Projekt neue Arbeitsplätze schaffen und die Steuerbasis von Montana erweitern wird.

Positive
  • New data center agreement expected to lower per-customer operating costs
  • Secured minimum 50MW energy service load starting 2027, growing to 250MW+ by 2029
  • Additional revenue stream from regulated business segment
  • Project will increase state tax base and create new jobs
Negative
  • None.

Insights

This deal marks a significant strategic expansion for NorthWestern Energy, with the 50MW initial commitment scaling to >250MW by 2029 representing substantial new regulated revenue. The data center load will improve asset utilization and spread fixed costs across a larger customer base, potentially improving margins. The timing aligns well with NorthWestern's capacity additions from the Yellowstone County Generating Station and Colstrip Plant acquisition, ensuring reliable service delivery. The regulated nature of the business provides revenue stability while the scale of power demand could necessitate additional infrastructure investment, creating further regulated asset growth opportunities.

The data center agreement represents a major customer acquisition in Montana's emerging tech infrastructure sector. With 50MW minimum load growing to 250MW, this positions NorthWestern to capture significant market share in the rapidly expanding data center industry. The company's clean energy portfolio, featuring hydro, wind and solar resources, aligns perfectly with data centers' increasing focus on renewable power. Montana's competitive rates and pro-business policies, combined with NorthWestern's reliable infrastructure, could attract additional data center operators, potentially creating a snowball effect for future growth.

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.

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.

NorthWestern Energy Group, Inc.

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