Black Hills Power, Inc., a regulated electric utility, generates, transmits, and distributes electricity in South Dakota, Wyoming, and Montana. Its distribution and transmission system serves approximately 70,000 electric customers with an electric transmission system of 1,182 miles of high voltage lines and 2,474 miles of lower voltage lines, as well as jointly owns 44 miles of high voltage lines. The company owns approximately 445 megawatts of electric utility generating capacity. It serves commercial, residential, contract wholesale, wholesale off-system, industrial, municipal, and other customers. The company is based in Rapid City, South Dakota. Black Hills Power, Inc. is a subsidiary o...
625 Ninth Street
Rapid City, SD 57701
Black Hills Power Inc. and Cheyenne Light, Fuel & Power Company Announce First Mortgage Bonds for New Power Plant
Jun 30 14
Black Hills Corp. announced that its Black Hills Power and Cheyenne Light Fuel & Power electric utility subsidiaries entered into Bond Purchase Agreements, dated as of June 30, 2014, to authorize the sale of $160 million of first mortgage bonds in a private placement for the Cheyenne Prairie Generating Station financing. Black Hills Power will issue $85 million of 4.43% first mortgage bonds due Oct. 20, 2044. Cheyenne Light will issue $75 million of 4.53% first mortgage bonds due Oct. 20, 2044. The closing date for the sale of the first mortgage bonds for both utilities is anticipated Oct. 1, 2014. The proceeds from the $160 million sale of first mortgage bonds will provide financing for the Cheyenne Prairie Generating Station, a $222 million power plant being built in Cheyenne, Wyo. The new power plant will serve customers for both Black Hills Power and Cheyenne Light.