Otter Tail Power to keep stake in North Dakota coal plant
FERGUS FALLS, Minn. (KVRR/KFGO) — Fergus Falls-based Otter Tail Power reverses its decision to divest from a large North Dakota coal-fired power plant, citing new risks in the Midwest electricity market.
Otter Tail Power announced two years ago it would sell its minority stake in the Coyote Station Power Plant in Beulah, North Dakota.
At the time, the company said the plant became too costly and unnecessary as it added more renewable energy.
Otter Tail has now told Minnesota regulators it still needs Coyote Station for generation capacity and concerns about the regional power grid.
The utility said in a recent filing it has added some large customers, increasing its need for generation capacity, specifically citing a cryptocurrency operation in Jamestown that has become its second-largest customer.