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Green Giraffe advised on the sale of Absaroka's 400 MW Gordon Butte pumped storage hydro project in Montana, USA, successfully closing the transaction with a European investment fund
Copenhagen Infrastructure Partners, through Copenhagen Infrastructure III K/S, acquired an equity interest in Absaroka Energy’s pumped storage hydro energy project in Montana, USA. The 400 MW Gordon Butte Pumped Storage Project represents a carbon-neutral way to help balance the grid in the Pacific Northwest and will be the first new pumped storage project developed in the US in 30 years. Green Giraffe co-advised on the transaction, which reached financial close in June 2019.
The Gordon Butte project is sited in Meagher County, located about three miles west of Martinsdale and less than six miles from its interconnection to the Colstrip twin 500 kV transmission lines, the backbone of the Pacific Northwest’s electric system. This interconnection location will give the facility access to markets in Montana and throughout the region. The project will have minimal environmental impact due in large part to the closed loop nature of the siting and design thus taking the facility out of an existing stream or water impoundment. Capital expenditures to build and operate the project will inject meaningful resources into the state and local economy.