California utility wants to invest $600 million in Montana wind farm

Big banks have backed away from big wind, but an investor-owned utility in California is proposing to invest $600 million of its own ratepayer-backed money to get one wind farm built in northern Montana.

Last year, San Diego Gas & Electric signed an agreement with developer NaturEner USA to purchase 309 megawatts of power from the $800 million Rim Rock wind farm in Glacier and Toole counties, said Jennifer Ramp, a spokeswoman for SDG & E.

In a July 15 filing to the California Public Utilities Commission, SDG & E asked for permission to amend the original power purchase agreement to allow the $600 million equity investment in Rim Rock.

A drop-off in capital investment by commercial banks and pressing renewable-energy requirements in California are cited in the proposal.

"We think this might be a very unique investment opportunity," Ramp said.

By KARL PUCKETT • Tribune Staff Writer

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