ALLETE Clean Energy Secures Tax Equity Funding for Its Two Newest Wind Sites
Allete, Inc. (ALE)
Last allete, inc. earnings: 2/13 06:30 am
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Source: Business Wire
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Clean Energy, a wholly owned subsidiary of ALLETE (NYSE: ALE), sold Class A passive membership interests in Great American West Wind LLC to JPM Capital Corporation on Dec. 30, 2019, in support of the Glen Ullin Energy Center wind site in North Dakota.The Great American West Wind LLC tax equity transaction also will generate future funding for ALLETE Clean Energy’s South Peak wind site in Montana, expected to begin producing energy in the next few weeks. Glen Ullin Energy Center began commercial operations in December 2019.“This tax equity deal highlights the appeal of our wind energy growth strategy among investors. The combination of high-quality projects like Glen Ullin and South Peak, respected counterparties, the latest technology, high-quality wind resources, and our development experience and relationships have led to success in the tax equity market. We plan to carry this winning formula forward on future projects,” said ALLETE Clean E
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