SIOUX FALLS, S.D. (AP) -- NorthWestern Corp.'s Northwestern Energy said Tuesday it wants to sell its unregulated stake in a Montana coal-fired electricity generating plant for $404 million.Bicent (Montana) Power Co. LLC, an affiliate of Beowulf Energy and Natural Gas Partners, has agreed to buy in an all-cash deal NorthWestern's approximately 30 percent interest in Colstrip Unit 4, a 740-megawatt facility located in Colstrip, Mont.
Before closing, however, NorthWestern will ask the Montana Public Service Commission whether the Colstrip Unit 4 interest should be included in NorthWestern's rate base. If the asset is placed in the utility's rate base the sale to Bicent will be terminated, NorthWestern said.
Closing of the sale or termination of the sale agreement is expected in the fourth quarter.
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