Global Infrastructure SherpaOregon Trail Electric Cooperative to acquire Idaho Power's Oregon service area
Oregon Trail Electric Cooperative plans to take ownership of Idaho Power Co.’s Oregon service area in a $154 million deal. The acquisition will add 20,000 customers to OTEC’s rolls, double its service territory from the current 6,700 square miles, and double the miles of power lines from about 3,100 to 6,200.
Counterparts (2)
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- Acquisition value of $154 million.
- OTEC will double its customer base and service territory.
- Idaho Power divesting its Oregon service area.
- Deal involves a cooperative acquiring assets from a larger regional utility.
Source Intelligence
The acquisition will add 20,000 customers to OTEC’s rolls, double its service territory from the current 6,700 square miles, and double the miles of power lines from about 3,100 to 6,200. OTEC would take Idaho Power’s customers in Malheur County and parts of Baker and Harney counties.
"Oregon Trail Electric Cooperative plans to take ownership of Idaho Power Co.’s Oregon service area"
"Oregon Trail Electric Cooperative plans to take ownership of Idaho Power Co.’s Oregon service area"
"OTEC will finance the deal through the National Rural Utilities Cooperative Finance Corporation, the same Virginia bank that provided the initial $33 million loan for OTEC’s creation in 1988, Hoover said."
Timeline
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