Coal news and updates

The search for a new owner for Coal Creek Station is over, as a Bismarck-based company has reached a deal with operator Great River Energy to purchase the power plant.

 

Affiliates of Rainbow Energy Marketing Corp. will acquire the McLean County plant and its transmission line, the company announced Wednesday. The deal is expected to close later this year. The purchase price wasn't disclosed.

 

Rainbow manages power and natural gas assets for clients within the utility sector. It is part of United Energy Corp., a holding company with subsidiaries involved in supplying gas, producing oil, and marketing oil, gas and electricity.

 

Rainbow President Stacy Tschider said the company has 28 years of experience in marketing power throughout North America. Affiliate Rainbow Energy Center will operate the plant and affiliate Nexus Line will operate the power line, which extends from Coal Creek into Minnesota.

 

“We are committed to providing competitive and reliable power to consumers," Tschider said in a statement. "As a privately held company, we are uniquely positioned to actively pursue customers that purchase power on the open market, which includes power purchased by Great River Energy.”

 

Great River Energy announced last year that it planned to close Coal Creek in 2022 unless it could find a new owner. The plant has run at a loss for several years, and the Minnesota-based power cooperative sought to essentially give it away if it could find any takers.

 

 

Source : https://billingsgazette.com/news