{"id":793580,"date":"2024-12-09T18:03:20","date_gmt":"2024-12-09T23:03:20","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/otter-tail-power-company-advances-plans-to-add-345-megawatts-of-solar\/"},"modified":"2024-12-09T18:03:20","modified_gmt":"2024-12-09T23:03:20","slug":"otter-tail-power-company-advances-plans-to-add-345-megawatts-of-solar","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/otter-tail-power-company-advances-plans-to-add-345-megawatts-of-solar\/","title":{"rendered":"Otter Tail Power Company Advances Plans to Add 345 Megawatts of Solar"},"content":{"rendered":"<p>        <!--body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p><b>Otter Tail Power Company Advances Plans to Add 345 Megawatts of Solar<\/b><\/p>\n<p><b><i>Continues to deliver reliable, low-cost power<\/i><\/b><\/p>\n<p>FERGUS FALLS, Minn.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nOtter Tail Power Company, a wholly-owned subsidiary of Otter Tail Corporation (Nasdaq: OTTR), plans to add two solar facilities to its energy generation fleet to meet customers\u2019 future energy needs. On December 9, 2024 the company requested Minnesota Public Utilities Commission determination that the costs associated with Solway Solar and Abercrombie Solar are eligible for cost recovery.<\/p>\n<p>\n\u201cThese economic solar facilities fit the requirements of our recently approved Minnesota Integrated Resource Plan,\u201d said Otter Tail Power President Tim Rogelstad. \u201cCombined with our existing low-cost generation resources, they\u2019ll help us continue to provide cost-effective, reliable electricity to our customers.\u201d<\/p>\n<p><b>Building 50 MW of solar in Minnesota<\/b><\/p>\n<p>\nSolway Solar is a 50-megawatt (MW) solar generation facility the company plans to build in Lammers Township near Solway, Minnesota. Depending on the timing of project approvals, Otter Tail Power anticipates Solway Solar to be fully operational in 2026. \u201cThis location offers an opportunity to add solar generation where transmission interconnection facilities already exist, which helps keep costs low for our customers,\u201d said Rogelstad.<\/p>\n<p>\nOtter Tail Power estimates $4.2 million in local and state tax benefits over the 35-year life of the facility, with approximately 70 construction jobs during the peak of the 9-month construction period.<\/p>\n<p><b>Constructing 295 MW of solar in North Dakota<\/b><\/p>\n<p>\nAbercrombie Solar, currently known as the Flickertail Solar Project, is a 295-MW solar generation facility under development in Abercrombie Township northwest of Wahpeton, North Dakota. Otter Tail Power has signed an agreement with Flickertail Solar Project, LLC to buy the development assets\u2014once permits and regulatory approvals are received and other contractual requirements are met\u2014with the intention to build the project. \u201cWe\u2019re looking forward to adding this significant energy resource that\u2019s cost effective for our customers,\u201d said Rogelstad.<\/p>\n<p>\nExpected to be complete in 2028, the company estimates the project to provide $23.8 million in local and state tax benefits over the 35-year life of the facility and create approximately 300 construction jobs at peak construction.<\/p>\n<p><b>Powering the future<\/b><\/p>\n<p>\nOtter Tail Power\u2019s Integrated Resource Plan outlines the combination of resources the company will use to meet its customers\u2019 energy needs during the next 15 years. \u201cWe expect that 57 percent of our energy generation will come from renewable resources by 2030, while ensuring electric service continues to be safe, reliable, and economical,\u201d said Rogelstad.<\/p>\n<p>\nThe company is following necessary regulatory steps in each state it serves to determine final facility sizes, total capital investments, and how facility costs and benefits will be allocated to customers.<\/p>\n<p><b>Forward-Looking Statements<\/b><\/p>\n<p>\nExcept for historical information contained here, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The words \u201canticipate,\u201d \u201cbelieve,\u201d \u201ccan,\u201d \u201ccould,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cfuture,\u201d \u201cgoal,\u201d \u201cintend,\u201d \u201clikely,\u201d \u201cmay,\u201d \u201coutlook,\u201d \u201cplan,\u201d \u201cpossible,\u201d \u201cpotential,\u201d \u201cpredict,\u201d \u201cprobable,\u201d \u201cprojected,\u201d \u201cshould,\u201d \u201ctarget,\u201d \u201cwill,\u201d \u201cwould\u201d and similar words and expressions are intended to identify forward-looking statements. Such statements are based upon the current beliefs and expectations of management. Forward-looking statements made herein, which may include statements regarding 2024 earnings and earnings per share, long-term earnings, earnings per share growth and earnings mix, anticipated levels of energy generation from renewable resources, anticipated reductions in carbon dioxide emissions, future investments and capital expenditures, rate base levels and rate base growth, future raw materials costs, future raw materials availability and supply constraints, future operating revenues and operating results, and expectations regarding regulatory proceedings, as well as other assumptions and statements, involve known and unknown risks and uncertainties that may cause our actual results in current or future periods to differ materially from the forecasted assumptions and expected results. The Company\u2019s risks and uncertainties include, among other things, uncertainty of future investments and capital expenditures; rate base levels and rate base growth; risks associated with energy markets; the availability and pricing of resource materials; inflationary cost pressures; attracting and maintaining a qualified and stable workforce; changing macroeconomic and industry conditions that impact the demand for our products, pricing and margin; long-term investment risk; seasonal weather patterns and extreme weather events; counterparty credit risk; future business volumes with key customers; reductions in our credit ratings; our ability to access capital markets on favorable terms; assumptions and costs relating to funding our employee benefit plans; our subsidiaries\u2019 ability to make dividend payments; cybersecurity threats or data breaches; the impact of government legislation and regulation including foreign trade policy and environmental; health and safety laws and regulations; changes in tax laws and regulations; the impact of climate change including compliance with legislative and regulatory changes to address climate change; expectations regarding regulatory proceedings, including state utility commission approval of resource plans, assigned service areas, the siting and construction of major facilities, capital structure, and allowed customer rates; actual and threatened claims or litigation; and operational and economic risks associated with our electric generating and manufacturing facilities. These and other risks are more fully described in our filings with the Securities and Exchange Commission, including our most recently filed Annual Report on Form 10-K, as updated in subsequently filed Quarterly Reports on Form 10-Q, as applicable. Forward-looking statements speak only as of the date they are made, and we expressly disclaim any obligation to update any forward-looking information.<\/p>\n<p><b>About the Corporation<\/b><\/p>\n<p>\nOtter Tail Corporation, a member of the S&amp;P SmallCap 600 Index, has interests in diversified operations that include an electric utility and manufacturing businesses. Otter Tail Corporation stock trades on the Nasdaq Global Select Market under the symbol OTTR. The latest investor and corporate information is available at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.ottertail.com&amp;esheet=54164374&amp;newsitemid=20241209566624&amp;lan=en-US&amp;anchor=www.ottertail.com&amp;index=1&amp;md5=6fda482c9875aa971d15d9d80d1ff3e3\">www.ottertail.com<\/a>. Corporate offices are in Fergus Falls, Minnesota, and Fargo, North Dakota.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20241209566624r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20241209566624\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20241209566624\/en\/<\/a><\/span><\/p>\n<p><b>Media Contact<\/b>: Stephanie Hoff, Director of Corporate Communications, (218) 739-8535<br \/>\n<br \/><b>Investor Contact<\/b>: Beth Eiken, Manager of Investor Relations, (701) 451-3571<\/p>\n<p><b>KEYWORDS:<\/b> North Dakota Minnesota United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Other Natural Resources Utilities Manufacturing Alternative Energy Natural Resources Energy Other Manufacturing<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20241209566624\/en\/1210155\/3\/OTCorp.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Otter Tail Power Company Advances Plans to Add 345 Megawatts of Solar Continues to deliver reliable, low-cost power FERGUS FALLS, Minn.&#8211;(BUSINESS WIRE)&#8211; Otter Tail Power Company, a wholly-owned subsidiary of Otter Tail Corporation (Nasdaq: OTTR), plans to add two solar facilities to its energy generation fleet to meet customers\u2019 future energy needs. On December 9, 2024 the company requested Minnesota Public Utilities Commission determination that the costs associated with Solway Solar and Abercrombie Solar are eligible for cost recovery. \u201cThese economic solar facilities fit the requirements of our recently approved Minnesota Integrated Resource Plan,\u201d said Otter Tail Power President Tim Rogelstad. \u201cCombined with our existing low-cost generation resources, they\u2019ll help us continue to provide cost-effective, reliable electricity to our customers.\u201d &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/otter-tail-power-company-advances-plans-to-add-345-megawatts-of-solar\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Otter Tail Power Company Advances Plans to Add 345 Megawatts of Solar&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-793580","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Otter Tail Power Company Advances Plans to Add 345 Megawatts of Solar - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/otter-tail-power-company-advances-plans-to-add-345-megawatts-of-solar\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Otter Tail Power Company Advances Plans to Add 345 Megawatts of Solar - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Otter Tail Power Company Advances Plans to Add 345 Megawatts of Solar Continues to deliver reliable, low-cost power FERGUS FALLS, Minn.&#8211;(BUSINESS WIRE)&#8211; Otter Tail Power Company, a wholly-owned subsidiary of Otter Tail Corporation (Nasdaq: OTTR), plans to add two solar facilities to its energy generation fleet to meet customers\u2019 future energy needs. On December 9, 2024 the company requested Minnesota Public Utilities Commission determination that the costs associated with Solway Solar and Abercrombie Solar are eligible for cost recovery. \u201cThese economic solar facilities fit the requirements of our recently approved Minnesota Integrated Resource Plan,\u201d said Otter Tail Power President Tim Rogelstad. \u201cCombined with our existing low-cost generation resources, they\u2019ll help us continue to provide cost-effective, reliable electricity to our customers.\u201d &hellip; Continue reading &quot;Otter Tail Power Company Advances Plans to Add 345 Megawatts of Solar&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/otter-tail-power-company-advances-plans-to-add-345-megawatts-of-solar\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-09T23:03:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20241209566624r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/otter-tail-power-company-advances-plans-to-add-345-megawatts-of-solar\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/otter-tail-power-company-advances-plans-to-add-345-megawatts-of-solar\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Otter Tail Power Company Advances Plans to Add 345 Megawatts of Solar\",\"datePublished\":\"2024-12-09T23:03:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/otter-tail-power-company-advances-plans-to-add-345-megawatts-of-solar\\\/\"},\"wordCount\":1011,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/otter-tail-power-company-advances-plans-to-add-345-megawatts-of-solar\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20241209566624r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/otter-tail-power-company-advances-plans-to-add-345-megawatts-of-solar\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/otter-tail-power-company-advances-plans-to-add-345-megawatts-of-solar\\\/\",\"name\":\"Otter Tail Power Company Advances Plans to Add 345 Megawatts of Solar - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/otter-tail-power-company-advances-plans-to-add-345-megawatts-of-solar\/","og_locale":"en_US","og_type":"article","og_title":"Otter Tail Power Company Advances Plans to Add 345 Megawatts of Solar - Market Newsdesk","og_description":"Otter Tail Power Company Advances Plans to Add 345 Megawatts of Solar Continues to deliver reliable, low-cost power FERGUS FALLS, Minn.&#8211;(BUSINESS WIRE)&#8211; Otter Tail Power Company, a wholly-owned subsidiary of Otter Tail Corporation (Nasdaq: OTTR), plans to add two solar facilities to its energy generation fleet to meet customers\u2019 future energy needs. On December 9, 2024 the company requested Minnesota Public Utilities Commission determination that the costs associated with Solway Solar and Abercrombie Solar are eligible for cost recovery. \u201cThese economic solar facilities fit the requirements of our recently approved Minnesota Integrated Resource Plan,\u201d said Otter Tail Power President Tim Rogelstad. \u201cCombined with our existing low-cost generation resources, they\u2019ll help us continue to provide cost-effective, reliable electricity to our customers.\u201d &hellip; Continue reading \"Otter Tail Power Company Advances Plans to Add 345 Megawatts of Solar\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/otter-tail-power-company-advances-plans-to-add-345-megawatts-of-solar\/","og_site_name":"Market Newsdesk","article_published_time":"2024-12-09T23:03:20+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20241209566624r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/otter-tail-power-company-advances-plans-to-add-345-megawatts-of-solar\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/otter-tail-power-company-advances-plans-to-add-345-megawatts-of-solar\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Otter Tail Power Company Advances Plans to Add 345 Megawatts of Solar","datePublished":"2024-12-09T23:03:20+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/otter-tail-power-company-advances-plans-to-add-345-megawatts-of-solar\/"},"wordCount":1011,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/otter-tail-power-company-advances-plans-to-add-345-megawatts-of-solar\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20241209566624r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/otter-tail-power-company-advances-plans-to-add-345-megawatts-of-solar\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/otter-tail-power-company-advances-plans-to-add-345-megawatts-of-solar\/","name":"Otter Tail Power Company Advances Plans to Add 345 Megawatts of Solar - 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