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Released November 21, 2024 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--As it prepares to be acquired by a partnership next year, ALLETE Incorporated (NYSE:ALE) (Duluth, Minnesota) continues to develop its renewable-energy holdings with supply agreements and improved infrastructure, especially in its home state of Minnesota. Industrial Info is tracking more than $3 billion worth of active and proposed projects from ALLETE, about $1.9 billion of which is attributed to transmission and distribution (T&D) projects.
Click on the image at right for a graph detailing ALLETE's active and proposed projects, by project type.
ALLETE agreed in May to be acquired by a partnership led by the Canada Pension Plan Investment Board (Toronto, Ontario) and Global Infrastructure Partners (New York, New York) for $6.2 billion, including the assumption of debt. "The merger is progressing as planned, and we remain on track for a mid-2025 closing, subject to all necessary approvals," said Bethany Owen, the chief executive officer of ALLETE, in a recent quarterly earnings-related press release. "One very significant milestone was met in the third quarter, with ALLETE's shareholders' approval of the merger in August."
Earlier this week, subsidiary ALLETE Clean Energy announced it had fully contracted the output of its Armenia Mountain Windfarm in Mainesburg, Pennsylvania, for another seven years through agreements with Smartest Energy US (Syracuse, New York), a wholesale commodity trader, and Old Dominion Electric Cooperative (Glen Allen, Virginia), a not-for-profit generation and transmission cooperative. Armenia Mountain generates 100.5 megawatts (MW) from 67 turbines built by General Electric (NYSE:GE) (Boston, Massachusetts).
Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project and Plant databases can learn more about the Armenia Mountain Windfarm in a detailed plant profile.
ALLETE Clean Energy could bolster its wind-energy portfolio without building entirely new windfarms. The subsidiary is exploring the proposed repowering of windfarms in Lake Benton, Minnesota, and Alta, Iowa. The projects, which are in their early analysis phases, would replace aging equipment at the 104-MW and 112.5-MW facilities, respectively, to boost output by an undetermined amount. Subscribers can read detailed reports on the Lake Benton and Alta projects.
On the T&D side, ALLETE subsidiary Minnesota Power recently kicked off a major replacement at its Badoura Substation in Nevis, Minnesota, where it is installing new line breakers and a transformer to reduce overloading and strengthen grid stability. Subscribers can learn more from a detailed project report.
The Bodoura project is just one of many across ALLETE's home state in which it hopes to improve the power grid. Two broader, more ambitious plans are working their way through the permitting process: the 150-mile Northland Reliability Project, which runs from northern Minnesota near Grand Rapids to central Minnesota near Becker, and is intended to accommodate more renewable energy and better protect the system during extreme weather events; and the Duluth Loop Reliability Project, which will add and enhance lines in and around Duluth and along the North Shore.
The Duluth Loop project could begin as early as next year, with the construction of a 14-mile line within Duluth, between two existing substations. Minnesota Power also is planning an expansion of the Ridgeview Substation, which sits at one end of the line, and an expansion of the Arrowhead Substation, which sits along the line's path. Subscribers can read detailed reports on the Duluth line, Ridgeview expansion and Arrowhead expansion.
Federal and state officials lauded the efforts at an event last month as the Arrowhead Substation, where outdated converters are set to be replaced with new components that will expand capacity from 900 MW to as much as 1.5 gigawatts (GW).
"Upgrades to the electric grid are critical to expanding Minnesota's high-voltage transmission system--the electric energy highways of the state--as Minnesota transitions from fossil fuels to carbon-free energy sources such as wind and solar power," Minnesota Power said in a press release.
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of detailed reports for active and proposed projects from ALLETE.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Click on the image at right for a graph detailing ALLETE's active and proposed projects, by project type.ALLETE agreed in May to be acquired by a partnership led by the Canada Pension Plan Investment Board (Toronto, Ontario) and Global Infrastructure Partners (New York, New York) for $6.2 billion, including the assumption of debt. "The merger is progressing as planned, and we remain on track for a mid-2025 closing, subject to all necessary approvals," said Bethany Owen, the chief executive officer of ALLETE, in a recent quarterly earnings-related press release. "One very significant milestone was met in the third quarter, with ALLETE's shareholders' approval of the merger in August."
Earlier this week, subsidiary ALLETE Clean Energy announced it had fully contracted the output of its Armenia Mountain Windfarm in Mainesburg, Pennsylvania, for another seven years through agreements with Smartest Energy US (Syracuse, New York), a wholesale commodity trader, and Old Dominion Electric Cooperative (Glen Allen, Virginia), a not-for-profit generation and transmission cooperative. Armenia Mountain generates 100.5 megawatts (MW) from 67 turbines built by General Electric (NYSE:GE) (Boston, Massachusetts).
Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project and Plant databases can learn more about the Armenia Mountain Windfarm in a detailed plant profile.
ALLETE Clean Energy could bolster its wind-energy portfolio without building entirely new windfarms. The subsidiary is exploring the proposed repowering of windfarms in Lake Benton, Minnesota, and Alta, Iowa. The projects, which are in their early analysis phases, would replace aging equipment at the 104-MW and 112.5-MW facilities, respectively, to boost output by an undetermined amount. Subscribers can read detailed reports on the Lake Benton and Alta projects.
On the T&D side, ALLETE subsidiary Minnesota Power recently kicked off a major replacement at its Badoura Substation in Nevis, Minnesota, where it is installing new line breakers and a transformer to reduce overloading and strengthen grid stability. Subscribers can learn more from a detailed project report.
The Bodoura project is just one of many across ALLETE's home state in which it hopes to improve the power grid. Two broader, more ambitious plans are working their way through the permitting process: the 150-mile Northland Reliability Project, which runs from northern Minnesota near Grand Rapids to central Minnesota near Becker, and is intended to accommodate more renewable energy and better protect the system during extreme weather events; and the Duluth Loop Reliability Project, which will add and enhance lines in and around Duluth and along the North Shore.
The Duluth Loop project could begin as early as next year, with the construction of a 14-mile line within Duluth, between two existing substations. Minnesota Power also is planning an expansion of the Ridgeview Substation, which sits at one end of the line, and an expansion of the Arrowhead Substation, which sits along the line's path. Subscribers can read detailed reports on the Duluth line, Ridgeview expansion and Arrowhead expansion.
Federal and state officials lauded the efforts at an event last month as the Arrowhead Substation, where outdated converters are set to be replaced with new components that will expand capacity from 900 MW to as much as 1.5 gigawatts (GW).
"Upgrades to the electric grid are critical to expanding Minnesota's high-voltage transmission system--the electric energy highways of the state--as Minnesota transitions from fossil fuels to carbon-free energy sources such as wind and solar power," Minnesota Power said in a press release.
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of detailed reports for active and proposed projects from ALLETE.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
