Centennial Power Acquires Rocky Mountain Power.Business Editors BISMARCK Bismarck, city (1990 pop. 49,256), state capital and seat of Burleigh co., S central N.Dak., on hills overlooking the Missouri River; inc. 1873. The trade center for a large spring-wheat, livestock, and dairying region, Bismarck is also a financial and , N.D.--(BUSINESS WIRE)--Feb. 5, 2002 Dick Vinson and Centennial Power, Inc., a subsidiary of MDU (1) (Multiple Dwelling Unit) A commercial or residential building with multiple offices or apartments. See BLEC. (2) (Multiply-Divide Unit) A high-speed circuit that performs multiplication and division within the CPU. Resources Group, Inc., announced today the acquisition by Centennial Power of Rocky Mountain Power, Inc., a Montana Montana (mŏntăn`ə), Rocky Mt. state in the NW United States. It is bounded by North Dakota and South Dakota (E), Wyoming (S), Idaho (W), and the Canadian provinces of British Columbia, Alberta, and Saskatchewan (N). energy development company co-owned by Vinson. The acquisition of Rocky Mountain Power enables Centennial Power to construct a 113-megawatt, coal-fired electric generation facility near Hardin, Montana Hardin is a city in Big Horn County, Montana, United States. The population was 3,384 at the 2000 census. It is the county seat of Big Horn CountyGR6. Geography Hardin is located at (45.731824, -107. . The plant will provide electricity to Montana Power Company (MPC (1) (Mobile PC) A handheld or laptop computer. See handheld computer, laptop computer and Ultra-Mobile PC. (2) (MultiPath Channel) See multipath. ) through a long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. power purchase agreement. Financial details were not disclosed. "Centennial Power was organized at MDU Resources in 2001 to enter the independent power production marketplace," said Paul Gatzemeier, Centennial Power's vice president and general manager. "As this is our first generation project, it is fitting that it will be located in Montana. We believe this project is beneficial for everyone concerned - MPC customers, the community of Hardin, shareholders of MDU Resources and Rocky Mountain Power." "I'm very pleased to have reached an agreement with Centennial Power and MDU Resources," said Vinson. "MDU Resources, through its various companies has operated in Montana for more than 75 years, has a strong environmental track record and is a company Montanans know well. This is great news for the Hardin area. I will continue to be actively involved with the project to help bring it through construction. Centennial's expertise and financial commitment to the power project will allow me to focus on the ethanol ethanol (ĕth`ənōl') or ethyl alcohol, CH3CH2OH, a colorless liquid with characteristic odor and taste; commonly called grain alcohol or simply alcohol. project that I have in development." Construction is planned to begin immediately following the issuance of an air quality permit, which is expected this spring. Centennial Power anticipates commercial operation in 2003. The plant will employ 33 permanent, full-time workers. MDU Resources Group, Inc. provides energy, value-added natural resource products and related services that are essential to our country's energy, transportation and communications infrastructure. MDU Resources includes electric and natural gas utilities, a natural gas pipeline, utility services, natural gas and oil production, construction materials and mining and energy services. For more information about MDU Resources, see the company's Web site at www.mdu.com. |
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