ALE - Mergers and acquisitions

ALLETE Clean Energy, a wholly owned subsidiary of ALLETE, Inc. (NYSE:ALE), today announced the company has sold the Whitetail wind project in southwestern Wisconsin to Invenergy, with the intent that it be constructed and subsequently sold to WEC Energy Group utilities We Energies and Wisconsin Public Service Corp. (WPS) as well as Madison Gas and Electric Co. (MGE). ALLETE Clean Energy acquired the Whitetail wind project in 2021 and developed it for sale to help companies advance their carbon-reduction goals. The approximately 70-megawatt Whitetail project will consist of up to 21 turbines on about 5,938 acres in Clifton and Wingville townships in Grant County. It will produce enough ener

ROSEVILLE, M.N., Oct. 17, 2024 /PRNewswire/ -- New Energy Equity, national developer and financier of community and commercial solar projects, announces the successful completion of 14 Public Storage solar projects across Minnesota. This significant milestone marks a major step forward in Public Storage's commitment to installing solar on over 1,300 of its properties by 2025. "We are thrilled to have partnered with Public Storage on these important projects," said Nick Kerwin, Senior Vice President at New Energy Equity's Commercial and Industrial division. "Our team worked dil

Project will provide power to an estimated 900 subscribers across eight cities SCHENECTADY, N.Y., Sept. 20, 2023 /PRNewswire/ -- DSD Renewables (DSD) has acquired a nine-project, 15-megawatt (MW) community solar portfolio in Minnesota from New Energy Equity. The 100% residential-offtake portfolio is estimated to generate more than 20,000 total megawatt hours (MWh) annually, delivering power to approximately 900 subscribers. ALE), develops, finances, operates and manages solar power generation assets, providing clean electricity to commercial, industrial, municipal, and utility customers under long-term contracts. (PRNewsfot

ALLETE Clean Energy, a wholly owned subsidiary of ALLETE, Inc. (NYSE:ALE), has acquired the Red Barn wind project and signed an asset sales agreement with WEC Energy Group utility Wisconsin Public Service Corp. (WPS) and Madison Gas and Electric Co. (MGE). WPS and MGE have applied to the Public Service Commission of Wisconsin to purchase the completed wind site from ALLETE Clean Energy to meet their future energy planning needs. ALLETE Clean Energy plans to complete construction and sale of the Red Barn wind project in late 2022. ALLETE Clean Energy acquired the Red Barn wind project from PRC Wind, a Minnesota-based renewable energy developer founded in 1997 (www.prcwind.com). The 91.6-me

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Clean Energy, a wholly owned subsidiary of ALLETE Inc. (NYSE: ALE), will repower and expand the Northern Wind site, consisting of the Chanarambie and Viking wind projects in southwest Minnesota, by replacing the existing turbines with new, more efficient equipment. When repowered in 2022, the project, totaling 120 megawatts of capacity, will be sold to Xcel Energy. The wind repowering project was spurred by the Minnesota Public Utilities Commission’s request for projects that could help the economy recover from the COVID-19 pandemic and recession by putting people to work and increasing the amount of renewable energy customers receive, while

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Clean Energy, a wholly owned subsidiary of ALLETE, Inc. (NYSE: ALE), announced today renewable energy sale agreements with the Oshkosh Corporation and Hormel Foods for a combined 100 megawatts from its Caddo wind site under construction in Oklahoma. The 303-megawatt Caddo site, with renewable energy sale agreements with three investment-grade Fortune 500 customers, will double ALLETE Clean Energy’s capacity to serve the accelerating corporate demand for clean energy. The project is in Caddo County in southern Oklahoma. “We’re proud to work with two leading Upper Midwest corporations to help them achieve their sustainability goals with Caddo

DULUTH, Minn.--(BUSINESS WIRE)--Two wholly owned subsidiaries of ALLETE (NYSE: ALE) have secured a total of nearly $350 million in tax equity financing in support of two recently completed wind energy sites. ALLETE Clean Energy on Dec. 30, 2020, sold Class A passive membership interests in Diamond Spring, LLC to FNBC Leasing Corp., an affiliate of JPM Capital Corp. The Diamond Spring wind site is a 303-megawatt wind facility in southern Oklahoma that sells renewable energy to Walmart, Smithfield Foods and Starbucks through renewable energy sales agreements. It achieved full commercial operation in early December. ALLETE South Wind also has secured tax equity financing from Bank

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Clean Energy, a wholly owned subsidiary of ALLETE, Inc. (NYSE: ALE), announced today the start of commercial operations at its Diamond Spring wind site in southern Oklahoma. The output from the 303-megawatt Diamond Spring site is contracted to provide renewable energy to Walmart, Smithfield Foods and Starbucks though separate renewable energy sales agreements with 12-15 year terms. Diamond Spring is ALLETE Clean Energy’s largest wind site, producing enough energy to power about 114,000 homes and increasing the company’s total wind capacity to more than 1,000 megawatts. “Diamond Spring will help our customers achieve their climate-action go

DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Clean Energy, a wholly owned subsidiary of ALLETE, Inc. (NYSE: ALE), announced today a renewable energy sale agreement with McDonald’s Corp. (NYSE: MCD) for 200 megawatts from the Caddo wind site ALLETE Clean Energy is currently constructing in Oklahoma. The 300-megawatt Caddo site, with its three renewable energy sale agreements with investment-grade Fortune 500 customers, will double ALLETE Clean Energy’s capacity to serve the accelerating corporate demand for clean energy. The project is in Caddo County in southern Oklahoma. “We’re honored to help McDonald’s advance its climate action goals while developing a project that will bring siza