ALLETE Inc. has launched a new company, ALLETE Clean Energy, which plans to leverage industry knowledge in order to bring clean energy to customers across North America.
The new company, a wholly owned subsidiary of ALLETE that will operate independently of the corporation's Duluth, Minn.-based regulated electric utility Minnesota Power, intends to acquire or develop renewable energy projects.
ALLETE Clean Energy will market to electric utilities, cooperatives, municipalities, independent power marketers and large end-users through long-term power contracts.
Eric Norberg has been named president of the new company. During Norberg's tenure as Minnesota Power's senior vice president of strategy and planning, he was involved in spearheading the company's development of new wind farms in Minnesota and North Dakota, and in negotiating a long-term purchase of hydropower from Manitoba Hydro in Canada.
‘There's a need for electric power that's less carbon-intensive – whether from the wind or sun, biomass or cleaner fossil fuels,’ says Norberg. ‘We intend to help fill that need beyond the boundaries of our regulated service territory.’
ALLETE Clean Energy is initially targeting capital projects in the range of $50 million to $150 million that could be developed or acquired. These projects could be owned by either ALLETE Clean Energy, a partnership or by the customer, according to the company.