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Avista Strengthens on Long-Term Clean Energy Contract With Chelan PUD -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — Avista Corporation (NYSE) shares rose 1.8% after it announced a long term clean energy contract (PUD) with Chelan county Public Utility District.

The contract covers 20 years of renewable hydropower generated by the PUD’s Columbia River hydro projects. This will be used to provide clean, carbon-free power for the Northwest electric customers.

Avista will receive 5% of PUD’s Rock Island or Rocky Reach hydropower projects between 2026 and 2030 under the contract. The output will increase to 10% from 2031-2045.

Avista stated that it will use the agreement to increase its carbon-free energy resources towards its 2030 renewable energy goals. It also contributes capacity to Idaho and Washington’s needs. 

Jason Thackston (Avista’s senior Vice President of Energy Resources) said that this deal was another important step in Avista’s journey to provide customers with clean electricity and carbon-neutral resources.

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