ALLETE Clean Energy closes on sale of Wisconsin wind project to WPS and MGE

Rhea-AI Summary

ALLETE Clean Energy has successfully closed the sale of the Red Barn wind project to WEC Energy Group and Madison Gas and Electric Co. The 91.6-megawatt project, capable of powering approximately 50,000 homes, commenced commercial operations this week. ALLETE Clean Energy acquired the project two years ago, marking its first initiative in Wisconsin, and has developed it to support local utilities' carbon-reduction goals. The company has a portfolio exceeding 1,500 megawatts across eight states, positioning it for future growth in the clean-energy sector.

Positive

• Successful sale of the Red Barn wind project enhances revenue potential.
• The project supports local utilities' carbon-reduction goals.
• Commencement of commercial operations increases operational capacity.
• ALLETE Clean Energy continues to expand its portfolio with over 1,500 megawatts.

Negative

• None.

DULUTH, Minn.--(BUSINESS WIRE)-- ALLETE Clean Energy, a wholly owned subsidiary of ALLETE, Inc. (NYSE: ALE), today announced the company has closed on the sale of the Red Barn project to WEC Energy Group utility Wisconsin Public Service Corp. (WPS) and Madison Gas and Electric Co. (MGE). The wind project also began commercial operation this week.

ALLETE Clean Energy acquired the Red Barn wind project two years ago—the company’s first project in Wisconsin—and developed it for sale to WPS and MGE to help the two utilities advance their carbon-reduction goals. The 91.6-megawatt Red Barn wind project consists of 28 turbines on about 8,900 acres in Grant County in southwestern Wisconsin. It can produce enough energy to power about 50,000 homes.

“Red Barn is a great example of how ALLETE Clean Energy is delivering cost-effective clean-energy solutions for a more sustainable grid,” said Nicole Johnson, ALLETE Clean Energy president and ALLETE vice president. “We continue to build on our track record for creating smart solutions for customers while expanding our capabilities to meet their needs and driving growth.”

ALLETE Clean Energy owns, operates, has in advanced construction and has delivered build-transfer projects totaling more than 1,500 megawatts of nameplate wind capacity across eight states. The company is well-positioned to drive additional clean-energy sector growth.

ALLETE, Inc. is an energy company headquartered in Duluth, Minnesota. In addition to its electric utilities, Minnesota Power and Superior Water, Light and Power of Wisconsin, ALLETE owns ALLETE Clean Energy, based in Duluth; BNI Energy in Bismarck, North Dakota; and New Energy Equity, headquartered in Annapolis, Maryland; and has an 8% equity interest in the American Transmission Co. More information about ALLETE is available at www.allete.com. ALE-CORP

The statements contained in this release and statements that ALLETE may make orally in connection with this release that are not historical facts, are forward-looking statements. Actual results may differ materially from those projected in the forward-looking statements. These forward-looking statements involve risks and uncertainties and investors are directed to the risks discussed in documents filed by ALLETE with the Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230405005281/en/

Amy Rutledge

Director - Corporate Communications

ALLETE/Minnesota Power

218-723-7400

arutledge@allete.com

Source: ALLETE Clean Energy