Why Black Hills (BKH) Is Up 8.2% After Inking Long-Term Google Data Center Power Deal

Black Hills Corp. previously announced it had signed long-term agreements running through 2048 to supply up to 590 MW of energy and manage a 2.7 GW resource mix for Google's planned Cheyenne, Wyoming data center, supported by US$1.80 billion of new natural gas generation investment starting in 2027. The project structure, including approximately US$399 million of refundable advances from Google and contract-based microgrid management fees, is designed to generate substantial long-term cash flow while preventing cost shifts to existing retail customers. We'll now examine how Black Hills' US$1.80 billion data center generation build and long-term Google contracts affect its broader investment narrative.