Idacorp Inc Dossier
Qualitative Analysis
Business overview
IDACORP, Inc. is an Idaho-based holding company incorporated in 1998 whose principal operating subsidiary is Idaho Power Company, a regulated electric utility with over 100 years of operational history. Idaho Power is engaged in the generation, transmission, distribution, sale, and purchase of electric energy. The utility serves more than 660,000 metered customers across a 24,000-square-mile service area in southern Idaho and eastern Oregon. Idaho Power's generation portfolio is anchored by low-cost, clean hydroelectric resources, owning and operating 17 hydroelectric projects on the Snake River and its tributaries, which historically supply over half of its generation mix. This hydro-heavy base is supplemented by natural gas-fired plants, interests in coal-fired facilities, and long-term power purchase agreements. IDACORP's other subsidiaries include IDACORP Financial Services (IFS), which invests in affordable housing and real estate tax credits, and Ida-West Energy, an operator of small independent hydropower projects.
Research as of 28 Jul 2026
Strategic Initiatives
Growth programs, investments, and their expected impact
Expanding regional transmission capacity to support unprecedented load growth and enhance grid reliability. Key projects include the Boardman to Hemingway (B2H) transmission line, which broke ground in June 2025, as well as permitting and development for the Gateway West and Southwest Intertie transmission projects.
Expected impact: Enables the movement of clean energy across the region, supports industrial load growth, and expands the regulated rate base.
Transitioning the generation mix toward cleaner resources to meet Idaho Power's goal of providing 100% clean energy by 2045. This includes adding significant solar and battery storage capacity, such as 250 MW of battery storage expected online in 2026, while managing the transition of thermal assets.
Expected impact: Reduces greenhouse gas emissions, aligns with ESG goals, and meets growing customer demand with clean, reliable energy.
Implementing comprehensive wildfire mitigation measures and hardening the transmission and distribution systems to reduce operational risks associated with extreme weather events.
Expected impact: Enhances system resiliency, protects communities, and mitigates potential liability and operational disruptions.
Mergers, Acquisitions & Partnerships
Recent deals and strategic collaborations
Strategic Partnerships
Idaho Power is partnering with PacifiCorp and BPA on the construction and ownership of the Boardman to Hemingway (B2H) transmission line. This joint project is critical for enhancing regional transmission capacity and sharing infrastructure costs.
Terms: Joint funding and capacity allocation agreements based on ownership shares.