PUEBLO, Colo., April 14, 2020 – Black Hills Energy submitted its 30-Day report to the Colorado Public Utilities Commission, summarizing the first milestone in its Renewable Advantage plan to seek cost savings for customers by more than doubling the company’s renewable energy portfolio, up to 65% by 2023.

The bidding process for new renewable energy projects and storage concluded on Feb. 15, attracting interest from developers  in Southern Colorado and across the nation. The 30-Day report provides an overview of the bids received for up to 200 megawatts (MW) of new, large-scale wind, solar and battery projects to add to Black Hills Energy’s Southern Colorado system.

“The response to our Renewable Advantage solicitation has been outstanding,” said Vance Crocker, Black Hills Energy’s vice president in Southern Colorado. “We received the lowest price offerings we’ve ever received in a competitive solicitation, an affirmation that Renewable Advantage is the right plan and the right time to secure long-term cost savings for our customers through lower power supply costs.”

In total, the company received 54 bids from 25 bidders for renewable energy projects at varying sizes, prices, technology types and locations, with the majority of projects to be sited in Pueblo and Pueblo County. The winning bid(s) and pricing will be determined in June when the company files its 120-Day report to the Commission.

Renewable Advantage Median Bid Summary

Generation Technology	Median bid:  Energy per Megawatt-hour (MWh)	Median Bid: Storage per Kilowatt-Month (kW)
Wind	$27.50 per MWh	N/A
Solar (PV)	$23.71 per MWh	N/A
Solar (PV) + Storage (All Durations)	$22.25 per MWh	$6.50 per kW/month
Energy Storage only	N/A	$9.27 per kW/month

Over the next three months, Black Hills Energy will complete its engineering analysis of the project proposals to determine the winning portfolio of bids and the specific amount of customer savings. In June, the company will submit its recommendation to the Commission, with anticipated approval to come in the fall. Once approved, construction of new renewable energy projects would begin in 2021.

More information is available at www.blackhillsenergy.com/renewable-advantage.