NorthWestern Energy has reached a deal to acquire a 370-megawatt share of the coal-fired Colstrip power plant.
The acquisition makes the Montana-based utility the largest shareholder of the plant with a 55% majority stake.
Colstrip’s coal-fired power plants is photographed earlier this year.
NorthWestern will take over Puget Sound Energy’s share of Colstrip at no cost, effective Jan. 1, 2026, according to a news release from the state’s largest public utility.
It is NorthWestern’s second major acquisition in Colstrip in recent years after the utility announced it would acquire 222 megawatts from co-owner Avista Corp, also effective Jan. 1, 2026.
Talen Energy, the current majority stakeholder, had originally made a deal to buy Puget Sound Energy’s stake in 2022. But that agreement fell apart after Talen declared bankruptcy.
This file photo shows the Rosebud Power Plant north of Colstrip on Nov. 14, 2023.
Colstrip’s co-owners in the Pacific Northwest are getting out of the coal business after voters in Washington and Oregon approved measures requiring utilities to move away from fossil fuels and instead focus on renewable energy sources.
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