wind facility

ALLETE Clean Energy Signs Purchase Agreement with AES for 100.5-MW Wind Facility

ALLETE Clean Energy (ACE) agreed to acquire 100 percent of AES Armenia Mountain Wind, (Armenia Mountain) a 100.5-MW wind facility near Troy, Pa., from AES and a non-controlling interest from a minority shareholder for a total of $108 million, plus the assumption of existing debt. ACE had an option to purchase the Armenia Mountain facility, which was exercised on April 1; a purchase agreement with AES was signed April 30. Closing is expected in July 2015. All the facility's energy output is sold through existing PPAs that extend through 2025.