Black Hills Signs Definitive Agreements Effective Sept. 30, 2026, With Terms Through 2048, To Serve A Planned Google Data Center To Be Constructed In Cheyenne, Wyoming; Investing $1.8B In New Company-Owned Natural Gas Generation; Project Is Expected To Deliver ~$2.4B Of Unlevered Free Cash Flow, Net Of $1.8B Of Generation Capital Investment

Black Hills Corp. has signed definitive agreements effective September 30, 2026, to provide energy services for a planned Google data center in Cheyenne, Wyoming, with terms extending through 2048. The company will invest $1.8 billion in new natural gas generation to support the project, which is expected to generate approximately $2.4 billion of unlevered free cash flow, net of the capital investment. The project will deliver up to 590 megawatts of energy service and is anticipated to contribute around $150 million in net income by 2030.