December 22, 2014 9:28 AM ET

Independent Power and Renewable Electricity Producers

Company Overview of Tri-State Generation & Transmission Association, Inc.

Company Overview

Tri-State Generation and Transmission Association, Inc., a wholesale power supply cooperative, generates and transmits electricity to its member distribution systems in Colorado, Nebraska, New Mexico, and Wyoming. The company also sells a portion of its power to other utilities in the region under long-term contracts and market sale arrangements. It generates electric energy from coal, natural gas, and oil-fired and combustion turbine generation facilities. Tri-State Generation and Transmission Association, Inc. was founded in 1952 and is headquartered in Westminster, Colorado.

1100 West 116th Avenue

Westminster, CO 80234

United States

Founded in 1952

1,531 Employees

Phone:

303-452-6111

Key Executives for Tri-State Generation & Transmission Association, Inc.

Chief Executive Officer
Age: 54
Chief Financial Officer and Senior Vice President
Age: 55
Chief Technology Officer and Senior Vice President of Business Strategy Research & Development
Senior Vice President and General Counsel
Chief Compliance Officer and Senior Vice President of Policy & Compliance
Compensation as of Fiscal Year 2014.

Tri-State Generation & Transmission Association, Inc. Key Developments

Tri-State Generation and Transmission Association, Inc. Considers Refinancing of Certain Debt

Tri-State Generation and Transmission Association, Inc. announced that it is contemplating a debt refinancing that would allow it to prepay all currently outstanding loans owed directly to or guaranteed by the U.S. Department of Agriculture's Rural Utilities Service, as well as certain other debt. The proposed refinancing is expected to consist of a number of different transactions and would refinance approximately $1.4 billion in aggregate principal amount of secured debt, including nearly $1.3 billion of loans guaranteed by the Rural Utilities Service. The company has already entered into agreements to sell $750 million aggregate principal amount of first mortgage notes maturing through 2045 to certain institutional investors. The company intends to complete the debt refinancing in November 2014.

Tri-State Signs Agreement with NextEra Energy Resources for New Wind Facility in Eastern Colorado

Tri-State Generation and Transmission Association, Inc. announced that it has entered into a 25-year agreement with a subsidiary of NextEra Energy Resources, LLC for a 150 megawatt wind power generating facility to be constructed in eastern Colorado. Under the 25-year power purchase agreement (PPA), Tri-State will purchase the entire output and associated environmental attributes of the Carousel Wind Farm. The 150 MW facility will be Tri-State's large wind energy PPA to date. When the project begins commercial operation, the wind farm will provide affordable electricity to Tri-State's 44 member cooperatives across Colorado, Nebraska, New Mexico and Wyoming. The Carousel Wind Farm agreement was the result of a solicitation for renewable resources issued by Tri-State in early 2013, months before the Colorado legislature approved a new mandate doubling the renewable standard for the state's rural electric cooperatives. Although the project will assist the association to meet that mandate, as well as a renewable energy standard in place in New Mexico, Tri-State believes such mandates are unnecessary and that the not-for-profit cooperative's resource decisions should be directed by its democratically-elected board. A NextEra Energy Resources subsidiary will construct, own and operate the Carousel Wind Farm. The project will interconnect to existing Tri-State transmission facilities in the Burlington area and is possible only because of planned transmission upgrades in the area. The upgrades have been in the planning process since 2010 and are expected to be completed in 2016. Nebergall notes that constraints in the grid system are making it increasingly harder to site and construct generation facilities in the region. The new facility will ultimately contribute to an increasingly diverse energy portfolio for the not-for-profit wholesale power supplier.

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