ALLETE Clean Energy, Xcel Energy Sign New Contracts for Existing Southern Minnesota Wind Site
5-year agreements extend site’s sales to Xcel Energy customers
ALLETE Clean Energy, a wholly owned subsidiary of ALLETE (NYSE: ALE),
has approved new 5-year power sale agreements between its Viking wind
facilities in southern Minnesota and Xcel Energy.
“We are pleased to collaborate with Xcel Energy to create a power
contract extension that continues to provide clean, affordable and
reliable energy to its customers, while providing greater revenue
certainty for our ALLETE investors, consistent with our strategy,” said
ALLETE Clean Energy President Allan S. Rudeck Jr. “ALLETE Clean Energy
continues to expand its collaborative track record with our customers to
deliver creative and innovative clean energy resources they expect while
efficiently operating and optimizing our facilities. Xcel Energy
continues to demonstrate their pioneering innovation in preserving and
extending power purchase agreements with their suppliers, both large and
small, in providing clean energy to Upper Midwest customers.”
The Viking facilities, with a combined capacity of 12 megawatts near
Lake Benton, Minnesota, and the larger Chanarambie wind project nearby,
make up ALLETE Clean Energy’s Northern Wind unit. The Chanarambie site
also is contracted to Xcel Energy.
Viking was developed by EDF Renewable Energy, and the eight General
Electric turbines began commercial operation in 2003. The wind site was
acquired by ALLETE Clean Energy in 2015. The site’s original 15-year
power sale agreements were set to expire in December 2018.
ALLETE Clean Energy was established in 2011 to acquire or develop
capital projects to create energy solutions by way of wind, solar,
biomass, hydro, natural gas, shale resources, clean coal technology and
other emerging innovations.
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; U.S. Water in St. Michael,
Minnesota; and has an eight percent 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/20181203005734/en/
Copyright Business Wire 2018
Source: Business Wire
(December 3, 2018 - 4:15 PM EST)
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