Chelan PUD considers 5,000-acre Ravenwing acquisition

WENATCHEE – A block of nearly 5,000 acres of undeveloped land south of the city may be the latest acquisition to Chelan PUD’s property holdings as disclosed at the regular meeting of the board of commissioners on Monday, Dec. 18.

PUD real estate manager Vicki Griffin confirmed that at the direction of the senior management team and as part of the utility’s 50-year vision process a purchase and sale agreement has been negotiated for 4,910 acres of property known as Ravenwing Ranch. 

The purchase price of the undeveloped land located along Colockum Road in the Malaga foothills is $5,325,000 or $1,085 per acre.

Staff attorney Daniel Appel explained that the proposed purchase and sale agreement signed on Dec. 14, and contingent on approval by the board includes:

• A recoverable $5,000 earnest money payment.
• A 90-day period to perform a due diligence investigation.
• An additional 90-day optional extension period, if needed.

The Ravenwing acquisition is part of the utility’s planning vision for the next half century of growth in the industry.

“I view it as a strategic purchase,” said PUD general manager Kirk Hudson. “It provides options down the road, whatever that 50-year vision might look like.”

Commissioner Garry Arseneault said he is familiar with the land and topography under consideration and supports its acquisition in relation to the “velocity of change” occurring in the utility industry.

Arsenault said that when asked, he describes it as “not your grandfather’s utility industry anymore,” in view of the challenges ahead.

“There’s so much going on…state and federal legislation, the Clean Energy Act, electric vehicles,” said Arseneault. “The demand for power is growing at unprecedented rates.”

He noted that as the demand for energy grows so does the movement to reduce carbon-generating energy sources from coal and natural gas.

“On one hand we’re reducing capacity,” said Arseneault. “On the other hand, we have huge demand in our headlights.”

“It’s all about positioning,” said Commissioner Carnan Bergren voicing his support of the acquisition.

“They don’t make land anymore,” said Bergren. “And they don’t make land as close to our facilities.”

Arseneault reviewed the Chelan PUD’s earlier decisions to acquire Rock Island Dam, later build Rocky Reach Dam, and to acquire Chelan Falls.

“Look at the position those decisions put us in,” reminded Arseneault. 

“This is a net win-win for the residents of this county…and this purchase clearly gives us options and choices.”

Mike Maltais: 360-333-8483 or michael@ward.media