The new company, a wholly-owned subsidiary of Allete that will operate independently of the corporation’s Duluth-based regulated electric utility, Minnesota Power, will market to electric utilities, cooperatives, municipalities, independent power marketers and large end-users through long-term purchased power contracts.
The company is initially targeting capital projects in the range of $50M to $150M that could be developed or acquired. These projects could be owned by either Allete Clean Energy, a partnership, or by the customer.
Besides pursuing hydropower, Allete Clean Energy will explore wind, biomass and solar projects as well as other new technologies. Low-emission energy fuels such as natural gas and liquefied fossil fuels will also be explored for project development.
