ALLETE Inc. has released a shareholder letter detailing recent developments and plans. The letter discusses a partnership with GIP and CPPIB aimed at future success, aligning with long-term investors to support a growth plan requiring approximately $4.8 billion over the next five years. The letter highlights the transition to clean energy and the need for critical energy infrastructure, including regional transmission projects. Shareholders are encouraged to request cost basis information prior to the company's transition to a privately held entity. The letter also notes the election of ten directors and the approval of compensation-related measures and an amendment to ALLETE's Articles of Incorporation. The full letter can be accessed through the link below.
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