Minnesota Power Advances EnergyForward with Request for Proposals for up to 300 Megawatts of Solar Energy

Rhea-AI Summary

ALLETE Inc. (NYSE: ALE) Advances EnergyForward Vision with 300 MW Solar Energy RFP by 2027

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• Minnesota Power, a division of ALLETE Inc., is taking a significant step in its EnergyForward vision for 100% carbon-free energy by issuing a Request for Proposals (RFP) for up to 300 megawatts of regional solar energy to come online by 2027. The RFP aligns with Minnesota Power's 2021 Integrated Resource Plan and state's carbon-free goals, aiming to increase its solar portfolio tenfold and provide renewable energy for customers. The RFP emphasizes cost-effective solar resources within its service territory and maximizes regional economic benefits, including preferences for diverse bidders, union labor, local labor, and apprenticeship programs.
• The RFP offers multiple power supply options, such as build-own-transfer, power purchase agreement, and self-build projects. Proposals will be accepted through Jan. 5, 2024. Minnesota Power also plans to release a notice for another RFP for up to 400 megawatts of wind as identified in the 2021 Integrated Resource Plan approval.

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DULUTH, Minn.--(BUSINESS WIRE)-- Minnesota Power, a utility division of ALLETE Inc. (NYSE: ALE), took an important step in advancing its EnergyForward vision for 100% carbon-free energy with the issuance of a Request for Proposals (RFP) for up to 300 megawatts of regional solar energy to come online by 2027.

The RFP follows Minnesota Power’s 2021 Integrated Resource Plan approved by the Minnesota Public Utilities Commission, which calls for the company to acquire up to 300 megawatts of regional solar generation capacity. The procurement of solar through this RFP will increase Minnesota Power’s solar portfolio by tenfold and provide customers with renewable energy that will help the company and state meet carbon-free goals in the coming decades.

As part of its EnergyForward strategy for a carbon-free energy future, Minnesota Power seeks cost-effective solar resources that are within its service territory with direct interconnections to the company’s transmission system, with a preference for projects in communities that have generation resources impacted by the company’s decarbonization plans.

The RFP strives to maximize the regional economic benefits of solar development, including preferences for diverse bidders and requirements for using union labor, local labor for construction and permanent staffing, and the development of apprenticeship programs.

“As we demonstrated with our three recent regional solar projects, this RFP reflects our commitment to creating opportunities for our communities during the clean-energy transformation,” said Minnesota Power Chief Operating Officer Josh Skelton. “We’re seeking projects that will create local construction jobs and tax base in communities, train people for the future and generate renewable energy for our customers. Getting this energy transformation right means building a truly sustainable future where everyone can thrive.”

Minnesota Power will consider multiple power supply options to meet its customers’ solar resource needs, including build-own-transfer and power purchase agreement projects along with self-build projects.

Proposals will be accepted through Jan. 5, 2024. Click here to learn more or to file a proposal.

In the coming weeks, Minnesota Power will be releasing a notice for another RFP for up to 400 megawatts of wind as identified in the 2021 Integrated Resource Plan approval.

Minnesota Power provides electric service within a 26,000-square-mile area in northeastern Minnesota, supporting comfort, security and quality of life for 150,000 customers, 14 municipalities and some of the largest industrial customers in the United States. More information can be found at www.mnpower.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/20231115254087/en/

Amy Rutledge

Director - Corporate Communications

Minnesota Power/ALLETE

218-723-7400

arutledge@mnpower.com

Source: ALLETE Inc.

FAQ

What is the purpose of Minnesota Power's RFP for solar energy?

Minnesota Power aims to increase its solar portfolio tenfold and provide renewable energy for customers while aligning with its EnergyForward vision for 100% carbon-free energy.

What are the power supply options considered in the RFP?

The RFP offers multiple power supply options, including build-own-transfer, power purchase agreement, and self-build projects.

When will proposals be accepted for the RFP?

Proposals will be accepted through Jan. 5, 2024.

What is the plan for another RFP by Minnesota Power?

Minnesota Power plans to release a notice for another RFP for up to 400 megawatts of wind as identified in the 2021 Integrated Resource Plan approval.