Virtual Public Meeting Held For ALLETE Acquisition

MINNESOTA – A public hearing was held online Friday morning regarding the acquisition of ALLETE, Minnesota Power’s parent company.

The acquisition aims to strengthen operational and financial foundations of the ALLETE.

It looks to keep Minnesota Power as an investor-owned utility while getting extra support from the Canada Pension Plan and Global Infrastructure Partners.

They hope to eventually upgrade and expand their electric grid to be more resilient against extreme weather conditions.

Minnesota Power services 150,000 residents in central and northern Minnesota. 

The company will still be regulated by the Minnesota Public Utilities Commission.

A spokesperson from Minnesota Power said that this would allow the company to advance in energy transition efficiency.  

There will be more additional public hearings to come in April.