Allete buys wind farm from NRG Energy

Allete Clean Energy has finalized the acquisition of a wind power facility in Storm Lake, Iowa, adding another 108 MW to its renewable energy portfolio.

The unit of Allete paid $15 million to NRG Energy to acquire Storm Lake 1, which is adjacent to Storm Lake 2, a 78 MW wind farm purchased by Allete Clean Energy earlier this year.

Both Storm Lake installations use 750 kW Zond winf turbines and are adjacent to each other in northwest Iowa. Storm Lake 2, acquired by ACE in a deal that closed in January 2014 includes 104 wind turbines; Storm Lake 1 consists of 144 turbines.

The Storm Lake 1 and 2 wind farms will share an operations and maintenance facility, and both are operating under power sales agreements that extend another five years, Norberg said. On January 30, 2014, Allete Clean Energy closed on the purchase of companies that own Storm Lake 2 and wind energy facilities located in Lake Benton, Minn., and Condon, Ore., with a total output of about 231 MW of power. ACE acquired ownership of the three wind farms from the AES Corp. for $26.9 million, and also has an option to acquire from AES a 101 MW wind farm in Pennsylvania.

Allete Clean Energy announced on November 24, 2014 that it had acquired the rights to develop a 107 MW wind farm near Hettinger, N.D. and upon project completion sell it to Montana Dakota Utilities for about $200 million, subject to regulatory approval. Electric generation from this project, the first wind energy facility to be developed and built by Allete Clean Energy, will be used by MDU’s utility customers.

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, Minn.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs