Platte River is a not-for-profit, community-owned public power utility that generates and delivers safe, reliable, environmentally responsible and financially sustainable wholesale energy and services to its owner communities of Estes Park, Fort Collins, Longmont and Loveland, Colorado, for delivery to their utility customers.
Platte River participates in the Windy Gap Project operated by the Municipal Subdistrict of the Northern Colorado Water Conservancy District (“Municipal Subdistrict”) and maintains a portfolio of Windy Gap Water units. One unit of Windy Gap Water (“Windy Gap Unit”) equals 1/480th of the annual yield of the Windy Gap Project. Platte River’s Board of Directors has authorized the sale of five unfirmed Windy Gap Units. These units for sale do not include current or future interest in the Windy Gap Firming Project (Chimney Hollow Reservoir) and are considered “unfirmed.”
Platte River seeks bids to purchase these unfirmed Windy Gap Units. Platte River will sell any whole number quantity of Windy Gap Units up to the maximum total of five unfirmed units. There is a minimum reserve bid price of $3,800,000.00 per Windy Gap Unit.
The sale and transfer of the Windy Gap Units to any successful bidders will be contingent on Platte River’s right of first refusal process with its owner communities. In addition, successful bidders must meet all Municipal Subdistrict rules, regulations, policies and procedures associated with allotment contracts, which require (among other things) that any purchaser qualify as tax exempt under applicable state and federal laws. Platte River’s sale of Windy Gap Units must also be approved by the Municipal Subdistrict Board of Directors, whose approval is discretionary.
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