
Today Otter Tail Power Company, a wholly owned subsidiary of Otter Tail Corporation (NASDAQ:OTTR), filed its 2027–2041 Integrated Resource Plan (IRP) with the Minnesota Public Utilities Commission, outlining how it

<p xmlns="http://www.w3.org/1999/xhtml">
Today Otter Tail Power Company, a wholly owned subsidiary of Otter Tail Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/OTTR">OTTR</a>), filed its 2027–2041 Integrated Resource Plan (IRP) with the Minnesota Public Utilities Commission, outlining how it plans to meet customers' electricity needs over the next 15 years.

</p><p xmlns="http://www.w3.org/1999/xhtml">
"Our responsibility is to deliver cost-effective, reliable electricity to our customers," said Otter Tail Power President Todd Wahlund. "This plan reflects the decisions we find best meet those expectations over the long term."

</p><p xmlns="http://www.w3.org/1999/xhtml">
The plan includes proposals to add a 50-megawatt natural gas plant expected to be in service in 2031–2032 and two 50-MW wind projects expected in service in 2035 and 2040.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Otter Tail Power said the proposed additions are intended to help meet electricity demand and maintain system reliability.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The IRP also reflects projects in development following its last Resource Plan approval, including the 50-MW Solway Solar expected to be in service in 2026, the 295-MW Abercrombie Solar expected to be in service in 2028, a 75-MW battery storage facility, and additional wind generation.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The company develops its resource plans using forecasts for customer demand, available generation resources, and market conditions across its service territory. The Minnesota Public Utilities Commission will review the plan through a regulatory process that includes opportunities for public and stakeholder input. Otter Tail Power expects to file a separate IRP in North Dakota in 2027. South Dakota does not currently have an IRP requirement.

</p><p xmlns="http://www.w3.org/1999/xhtml">
"Resource planning is an ever-evolving process," said Wahlund. "We'll continue to monitor issues that may impact our plan as we continue our commitment to providing reliable and affordable electricity to our customers."

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Forward Looking Statements</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
This release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "expect," "may," "plan," "will" and other similar words and expressions. Such statements are based on the current beliefs and expectations of management. Forward-looking statements made herein, which may include statements regarding our plan to meet customers' electricity needs, the type of generation resources selected, the timing of the additions, the financial and operational impact of the final outcome of the review as well as other assumptions and statements, involve known and unknown risks and uncertainties that may cause our actual plans or results to differ from our assumptions or expectations.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Our risks are more fully described in our filings with the Securities and Exchange Commission, including our most recently filed Annual Report on Form 10-K, as updated in subsequently filed Quarterly Reports on Form 10-Q, as applicable. Forward-looking statements speak only as of the date they are made, and we expressly disclaim any obligation to update any forward-looking information.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About the Corporation</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Otter Tail Corporation, a member of the S&amp;P SmallCap 600 Index, has interests in diversified operations that include an electric utility and manufacturing businesses. Otter Tail Corporation stock trades on the Nasdaq Global Select Market under the symbol OTTR. The latest investor and corporate information is available at <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.ottertail.com&amp;esheet=54536528&amp;newsitemid=20260515440406&amp;lan=en-US&amp;anchor=www.ottertail.com&amp;index=1&amp;md5=7bc3b1aae0bae8ebbe07b8ed98d1754a" shape="rect">www.ottertail.com</a>. Corporate offices are in Fergus Falls, Minnesota and Fargo, North Dakota.

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260515440406r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260515440406/en/" rel="nofollow">https://www.businesswire.com/news/home/20260515440406/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Investor contact</b>: Beth Eiken, Manager of Investor Relations, (701) 451-3571
<br xmlns="http://www.w3.org/1999/xhtml"></br><b xmlns="http://www.w3.org/1999/xhtml">Media Contact</b>: Stephanie Hoff, Director of Corporate Communications, (218) 739-8535

</p>

OTTR

Otter Tail Power Company Files 15-Year Resource Plan with Minnesota Regulators

Otter Tail Power's New Resource Plan Focuses on Reliability and Renewables

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>Today Otter Tail Power Company, a wholly owned subsidiary of Otter Tail Corporation (NASDAQ:OTTR), filed its 2027–2041 Integrated Resource Plan (IRP) with the Minnesota Public Utilities Commission, outlining how it</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Otter Tail Power has filed its 2027–2041 Integrated Resource Plan, focusing on a 50-MW natural gas plant and renewables. The plan aims to enhance system reliability and meet future electricity demand, likely positively impacting OTTR&#039;s valuation and operational outlook.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Otter Tail Power submits 2027–2041 Integrated Resource Plan to regulators.</li><li>Plan includes a natural gas plant and two wind projects by 2040.</li><li>Additional renewable projects include solar and battery storage facilities.</li><li>IRP aims to ensure reliable electricity and meet increasing demand.</li><li>Next steps include regulatory review and public input opportunities.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Otter Tail Corporation (OTTR)</strong>: Current initiatives could lead to enhanced revenue growth and market position.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>This news falls under &#039;Corporate Developments&#039; as it outlines strategic planning essential for future operational success, fitting within broader trends in the renewable energy sector.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Approval of the IRP could enhance OTTR&#039;s growth prospects and stock price.</li><li>Successful integration of renewable projects may reduce operational costs significantly.</li><li>Public and regulatory reception could influence future development timelines.</li><li>Market conditions affecting energy demand will impact the effectiveness of planned projects.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>50-MW natural gas plant planned for operational by 2032.</li><li>Two 50-MW wind projects set for 2035 and 2040 launch.</li><li>50-MW Solway Solar expected to be in service by 2026.</li><li>295-MW Abercrombie Solar is expected to be operational by 2028.</li><li>Long-term planning reflects growing electricity demand.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Invest in OTTR for potentially strong long-term growth from new energy projects.</p>
  </section>
</section>


<p xmlns="http://www.w3.org/1999/xhtml">
Today Otter Tail Power Company, a wholly owned subsidiary of Otter Tail Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/OTTR">OTTR</a>), filed its 2027–2041 Integrated Resource Plan (IRP) with the Minnesota Public Utilities Commission, outlining how it plans to meet customers' electricity needs over the next 15 years.

</p><p xmlns="http://www.w3.org/1999/xhtml">
"Our responsibility is to deliver cost-effective, reliable electricity to our customers," said Otter Tail Power President Todd Wahlund. "This plan reflects the decisions we find best meet those expectations over the long term."

</p><p xmlns="http://www.w3.org/1999/xhtml">
The plan includes proposals to add a 50-megawatt natural gas plant expected to be in service in 2031–2032 and two 50-MW wind projects expected in service in 2035 and 2040.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Otter Tail Power said the proposed additions are intended to help meet electricity demand and maintain system reliability.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The IRP also reflects projects in development following its last Resource Plan approval, including the 50-MW Solway Solar expected to be in service in 2026, the 295-MW Abercrombie Solar expected to be in service in 2028, a 75-MW battery storage facility, and additional wind generation.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The company develops its resource plans using forecasts for customer demand, available generation resources, and market conditions across its service territory. The Minnesota Public Utilities Commission will review the plan through a regulatory process that includes opportunities for public and stakeholder input. Otter Tail Power expects to file a separate IRP in North Dakota in 2027. South Dakota does not currently have an IRP requirement.

</p><p xmlns="http://www.w3.org/1999/xhtml">
"Resource planning is an ever-evolving process," said Wahlund. "We'll continue to monitor issues that may impact our plan as we continue our commitment to providing reliable and affordable electricity to our customers."

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Forward Looking Statements</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
This release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "expect," "may," "plan," "will" and other similar words and expressions. Such statements are based on the current beliefs and expectations of management. Forward-looking statements made herein, which may include statements regarding our plan to meet customers' electricity needs, the type of generation resources selected, the timing of the additions, the financial and operational impact of the final outcome of the review as well as other assumptions and statements, involve known and unknown risks and uncertainties that may cause our actual plans or results to differ from our assumptions or expectations.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Our risks are more fully described in our filings with the Securities and Exchange Commission, including our most recently filed Annual Report on Form 10-K, as updated in subsequently filed Quarterly Reports on Form 10-Q, as applicable. Forward-looking statements speak only as of the date they are made, and we expressly disclaim any obligation to update any forward-looking information.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About the Corporation</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Otter Tail Corporation, a member of the S&amp;P SmallCap 600 Index, has interests in diversified operations that include an electric utility and manufacturing businesses. Otter Tail Corporation stock trades on the Nasdaq Global Select Market under the symbol OTTR. The latest investor and corporate information is available at <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.ottertail.com&amp;esheet=54536528&amp;newsitemid=20260515440406&amp;lan=en-US&amp;anchor=www.ottertail.com&amp;index=1&amp;md5=7bc3b1aae0bae8ebbe07b8ed98d1754a" shape="rect">www.ottertail.com</a>. Corporate offices are in Fergus Falls, Minnesota and Fargo, North Dakota.

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260515440406r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260515440406/en/" rel="nofollow">https://www.businesswire.com/news/home/20260515440406/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Investor contact</b>: Beth Eiken, Manager of Investor Relations, (701) 451-3571
<br xmlns="http://www.w3.org/1999/xhtml"></br><b xmlns="http://www.w3.org/1999/xhtml">Media Contact</b>: Stephanie Hoff, Director of Corporate Communications, (218) 739-8535

</p>

Otter Tail Power has filed its 2027–2041 Integrated Resource Plan, focusing on a 50-MW natural gas plant and renewables. The plan aims to enhance system reliability and meet future electricity demand, likely positively impacting OTTR's valuation and operational outlook.

Otter Tail Power Company Files 15-Year Resource Plan with Minnesota Regulators

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

Related News