The hydroelectric power plants included in the transaction have a combined capacity of over 630MW.
The transaction includes Thompson Falls Dam on the Clark Fork River; Kerr Dam on the Flathead River; Madison Dam on the Madison River; Mystic Lake Dam on West Rosebud Creek.
It also features Hauser, Holter, Black Eagle, Rainbow, Cochrane, Ryan and Morony dams along the Missouri River.
NorthWestern Energy CEO Bob Rowe said: "The dams that are so much a part of Montana’s environment and heritage are now dedicated to serve our Montana customers, at prices based on the cost of providing service, not on the western power market."
Under the deal, about 81 employees from PPL Montana will be transferred to NorthWestern Energy.
NorthWestern had earlier issued equity and debt securities to finance the transaction.
The company expects that the 194MW Kerr project acquired as part of the deal will be transferred to the Confederated Salish and Kootenai Tribes of the Flathead Reservation in September 2015.
NorthWestern Energy offers electricity and natural gas in the Upper Midwest and Northwest, serving about 678,200 customers in Montana, South Dakota and Nebraska.
Image: The 11 hydroelectric power plants included in the transaction have a combined capacity of over 630MW. Photo: Courtesy of markuso/FreeDigitalPhotos.net.
