STATE
Clean Energy Deals in Montana
Every tracked clean energy deal in Montana since 2023 — 21 transactions, 2.8 GW of capacity, $605M of disclosed value. Includes M&A, project finance, PPAs, and tax credit transfers. Updated weekly.
21
Tracked Deals
2.8 GW
Total Capacity
$605M
Disclosed Value
2005–2023
Period
Top Deals
By disclosed value| Date | Asset / Counterparties | Size | Value |
|---|---|---|---|
| Jan 10, 2012 | NaturEner Rim Rock Energy NaturEner → Morgan Stanley | 189 MW | $320M |
| Jan 10, 2012 | NaturEner Rim Rock Energy NaturEner → SDG&E | 189 MW | $285M |
| Dec 15, 2021 | Clearwater Wind I NextEra Energy Resources → Puget Sound Energy | 350 MW | — |
| Oct 25, 2022 | Clearwater Wind I NextEra Energy Resources → Portland General Electric | 311 MW | — |
| Oct 25, 2022 | Clearwater Wind East NextEra Energy Resources → Portland General Electric | 207.9 MW | — |
| Aug 2, 2022 | NaturEner Rim Rock Energy NaturEner → BHE | 189 MW | — |
| Jan 1, 2005 | Judith Gap Wind Energy Center Invenergy → NorthWestern Energy | 135 MW | — |
| Oct 2, 2008 | NaturEner Glacier Wind Energy 1 NaturEner → SDG&E | 106.5 MW | — |
| Oct 2, 2008 | NaturEner Glacier Wind Energy 2 NaturEner → SDG&E | 103.5 MW | — |
| Aug 3, 2022 | NaturEner Glacier Wind Energy 2 NaturEner USA → BHE | 103.5 MW | — |
Most Active Firms
Top Buyers / Financiers
| # | Firm | Deals | Value |
|---|---|---|---|
| 1 | Portland General Electric | 4 | — |
| 2 | NorthWestern Energy | 4 | — |
| 3 | SDG&E | 3 | $285M |
| 4 | BHE | 2 | — |
| 5 | Investor-owned Utility | 1 | — |
Top Sellers / Developers
| # | Firm | Deals | Value |
|---|---|---|---|
| 1 | NextEra Energy Resources | 5 | — |
| 2 | NaturEner | 5 | $605M |
| 3 | ALLETE Clean Energy | 2 | — |
| 4 | Clenera | 2 | — |
| 5 | Pattern Energy | 2 | — |
Technology Mix
Deal Type Mix
- Utility PPA8
- Construction loan2
- Tax equity2
- Project acquisition2
- Power Purchase & Offtake1
Activity by Year
Recent Deals
Latest 10- MTSUN (Montana Sun) — Solar project, MT (West (non-ISO)), 80 MW, COD 2023.Jan 1, 2023
Power Purchase & Offtake · MT · 80 MW
- Clearwater Wind IOct 25, 2022
Utility PPA and partial ownership · MT · 311 MW
- Clearwater Wind EastOct 25, 2022
Stake acquisition · MT · 207.9 MW
- Clearwater Wind EastOct 25, 2022
Utility PPA · MT · 103 MW
- Clearwater Wind IIOct 25, 2022
Utility PPA and ownership stake · MT · 102.8 MW
- Apex SolarSep 15, 2022
Construction loan · MT · 80 MW
- Apex SolarSep 15, 2022
Utility PPA · MT · 80 MW
- NaturEner Glacier Wind Energy 2Aug 3, 2022
Project acquisition · MT · 103.5 MW
- NaturEner Rim Rock EnergyAug 2, 2022
Portfolio acquisition · MT · 189 MW
- Clearwater Wind IDec 15, 2021
Utility PPA · MT · 350 MW
Recent Moves at Active Firms
All moves →Terrell Kirk Crews II departed NextEra EnergyMar 5, 2026
Neal Kemkar joined as Chief Network Officer at CeresFeb 9, 2026
Related
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