ALLETE Clean Energy (ALLETE) finalized the purchase of wind farms in Minnesota, Iowa and Oregon from AES. ALLETE acquired the operating wind energy projects for $27 million and all three wind farms - with a total output of 231 MW - have PPAs in place for their entire electric output. ALLETE also signed in November an option agreement to acquire a fourth wind farm from AES in mid-2015. Pursuant to that option agreement, ALLETE will have an option to acquire the 101MW Armenia Mountain, Penn., wind farm.
ALLETE Clean Energy signed an acquisition agreement to purchase wind farms in Minnesota, Iowa and Oregon from The AES Corporation in early 2014 and has also signed an option agreement to acquire a fourth wind energy facility in Pennsylvania in mid-2015. Under the acquisition agreement, ALLETE Clean Energy would acquire AES’ position in operating wind energy projects in Lake Benton, Minn., Storm Lake, Ia., and Condon, Ore. with a total output of 231 MW for $27 million. All three wind farms to be acquired have PPAs in place for their entire electric output.