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ALLETE to lean on renewables for growth as utilities recover from pandemic

Feb 18, 2021 - SNL Energy Finance Daily
Financial Results

The Minnesota utility owner reiterated its five-year growth target, which was imperiled by lower industrial sales.

ALLETE Inc. will rely on its renewables business to drive growth in the coming years as its regulated utilities recover from the fallout of the new coronavirus pandemic.

The Minnesota utility owner had hinted in the third quarter of 2020 that growth in annual earnings per share had slipped below the 5% to 7% target for the five years commencing in 2019. The company is no...