Oregon Public Broadcasting

Oregon’s largest utility, Portland General Electric, says it’s ready to go to market to raise about $150 million. Kristian Foden-Vencil reports.

PGE is offering almost 11 million shares at $14.10 each. The company is hoping to raise money to pay for an expansion of the Bigelow Wind Farm in Sherman County and for new transmission lines to take that power to market.

The company also wants to pay off some short-term debt.

PGE declared independence from its bankrupt parent company, Enron, three years ago. Since then, it has focused on its core operations. 

Company stock climbed on news of the stock offering, from about $14 a share to $16.