STATE
Clean Energy Deals in North Dakota
Every tracked clean energy deal in North Dakota since 2023 — 31 transactions, 4.3 GW of capacity, $2.78B of disclosed value. Includes M&A, project finance, PPAs, and tax credit transfers. Updated weekly.
31
Tracked Deals
4.3 GW
Total Capacity
$2.78B
Disclosed Value
2008–2026
Period
Top Deals
By disclosed value| Date | Asset / Counterparties | Size | Value |
|---|---|---|---|
| Oct 27, 2017 | Brady II Wind Energy Center NextEra Energy Resources → NextEra Energy Partners | 150 MW | $812M |
| Oct 27, 2017 | Brady Wind Energy Center NextEra Energy Resources → NextEra Energy Partners | 150 MW | $812M |
| Jan 1, 2015 | Courtenay Wind Farm Geronimo Energy → Xcel Energy | 200 MW | $300M |
| Feb 21, 2025 | Badger Wind Farm Orsted → Montana-Dakota Utilities | 122 MW | $294M |
| Jan 5, 2016 | Thunder Spirit Wind ALLETE Clean Energy → Montana-Dakota Utilities | 107.5 MW | $220M |
| Feb 18, 2026 | Northern Divide Energy Storage — 100 MW / 400 MWh BESS, B… NextEra Energy Resources → Basin Electric Power Cooperative | 100 MW | $128,600,000 |
| Dec 31, 2018 | New Frontier Wind Capital Power → JPMorgan Chase | 100 MW | $125M |
| Mar 1, 2018 | Thunder Spirit Wind ALLETE Clean Energy → Montana-Dakota Utilities | 48 MW | $84M |
| Nov 19, 2019 | Aurora Wind Project Enel Green Power North America → Basin Electric Power Cooperative, Gap Inc. | 298.8 MW | — |
| Jul 16, 2013 | Courtenay Wind Farm Geronimo Energy → Xcel Energy | 200 MW | — |
Most Active Firms
Top Buyers / Financiers
| # | Firm | Deals | Value |
|---|---|---|---|
| 1 | Basin Electric Power Cooperative | 6 | $129M |
| 2 | Xcel Energy | 5 | $300M |
| 3 | Montana-Dakota Utilities | 4 | $598M |
| 4 | NextEra Energy Partners | 3 | $1.62B |
| 5 | Basin Electric Power Cooperative, Gap Inc. | 1 | — |
Top Sellers / Developers
| # | Firm | Deals | Value |
|---|---|---|---|
| 1 | NextEra Energy Resources | 11 | $1.75B |
| 2 | ALLETE Clean Energy | 4 | $304M |
| 3 | Orsted | 2 | $294M |
| 4 | Geronimo Energy | 2 | $300M |
| 5 | Apex Clean Energy | 2 | — |
Technology Mix
Deal Type Mix
- Utility PPA13
- Project acquisition5
- Portfolio acquisition3
- Tax equity2
- Power Purchase & Offtake1
Activity by Year
Recent Deals
Latest 10- Northern Divide Energy Storage — 100 MW / 400 MWh BESS, Burke County ND — Bas…Feb 18, 2026
Power Purchase & Offtake · ND · $128,600,000 · 100 MW
- Badger Wind FarmFeb 21, 2025
Stake acquisition · ND · $294M · 122 MW
- Bowman WindJan 27, 2025
Project investment · ND · 200 MW
- Badger Wind FarmNov 30, 2024
Power purchase agreement · ND · 150 MW
- Bowman WindNov 20, 2024
Virtual PPA · ND · 200 MW
- Ashtabula Wind IIIJan 4, 2023
Project acquisition · ND · 62.4 MW
- Merricourt Wind Energy CenterDec 22, 2020
Build-transfer acquisition · ND · 150 MW
- Glen Ullin Energy CenterJan 9, 2020
Tax equity · ND · 106.7 MW
- Glen Ullin Energy CenterDec 10, 2019
Utility PPA · ND · 106.7 MW
- Aurora Wind ProjectNov 19, 2019
Utility and corporate PPAs · ND · 298.8 MW
Recent Moves at Active Firms
All moves →Terrell Kirk Crews II departed NextEra EnergyMar 5, 2026
Ken Young appointed Board Chair-Elect at American Clean Power AssociationFeb 23, 2026
Neal Kemkar joined as Chief Network Officer at CeresFeb 9, 2026
Related
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