MDU Resources unit to buy 49% stake in Badger Wind Farm for $294M

MDU RESOURCES GROUP INC

Montana-Dakota Utilities acquires 122.5 MW of 250 MW Badger Wind Farm for $294M cash.
Transaction reduces existing PPA from 150 MW to 27.5 MW upon closing; requires NDPSC approval.
Construction underway near Wishek, ND; closing deadline December 1, 2026.
Nameplate generation mix projected: renewables 29% to 39%, coal 31% to 26%, gas 40% to 35%.
Purchase agreement includes seller cost-overrun caps: buyer can walk if costs exceed $496.4M.

Key facts

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

MDU RESOURCES GROUP INC: Amended and restated bylaws to revise director nomination and stockholder proposal procedures, including updates for universal proxy card rules, and make administrative changes (effective 2025-02-13).

Change: bylaw amendment
Effective: 2025-02-13

Exact text from the filing

On February 13, 2025, the Company’s board of directors approved amended and restated bylaws of the Company (as so amended and restated, the “Bylaws”), effective immediately.

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Source: SEC EDGAR

accession 0000067716-25-000012

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