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ALLETE to take 49% stake in 350-MW Minn. wind farm

Dec 28, 2018 - SNL Energy Finance Daily

ALLETE Inc. signed an equity partnership agreement with Tenaska Inc. on Dec. 27 to acquire a 49% stake in the 250-MW Nobles 2 wind farm in Minnesota.

The wind facility under construction in Nobles County, Minn., is expected to become operational in the second half of 2019. The total cost of the project is expected at $350 million to $400 million, according to a Form 8-K filing.

Minnesota Power Inc., an ALLETE subsidiary, has a long-term power purchase agreement for the entire output ...