United StatesEnergy Transition & Power Demandimpact 4
Black Hills Signs Google Data Center Power Deal Through 2048
Black Hills Corp. has signed long-term agreements running through 2048 to supply up to 590 MW of energy and manage a 2.7 GW resource mix for Google's planned Cheyenne, Wyoming data center. The deal is supported by US$1.80 billion of new natural gas generation investment starting in 2027, alongside approximately US$399 million of refundable advances from Google and contract-based microgrid management fees. Black Hills said the project structure is designed to generate substantial long-term cash flow while preventing cost shifts to existing retail customers. The company is also moving toward final regulatory approval of a pending all-stock merger with NorthWestern Energy, which would broaden it from a regional utility with a concentrated Wyoming data center pipeline into a larger, more diversified platform. Black Hills' narrative projects $3.7 billion in revenue and $593.3 million in earnings by 2029, requiring 17.1% yearly revenue growth and about a $294.2 million earnings increase from $299.1 million today.
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BKH · Demand · Positive Black Hills signed long-term agreements through 2048 to supply up to 590 MW of energy and manage a 2.7 GW resource mix for Google's Cheyenne data center.
BKH · Capital · Positive The deal is backed by $1.80 billion of new natural gas generation investment plus ~$399 million of refundable advances from Google, designed to generate substantial long-term cash flow.
GOOG · Demand · Positive Google's planned Cheyenne, Wyoming data center secures up to 590 MW of long-term power supply and microgrid management through 2048.
NWE · Capital · Neutral Black Hills is moving toward final regulatory approval of a pending all-stock merger with NorthWestern Energy, which would create a larger diversified platform.