ALLETE Inc. Gains Key Regulatory Approvals, Awaits MPUC Decision for 2025 Transaction Closing
Reuters
Aug 07, 2025
ALLETE Inc. Gains Key Regulatory Approvals, Awaits MPUC Decision for 2025 Transaction Closing
ALLETE Inc. has announced that its proposed partnership with the Canada Pension Plan Investment Board and Global Infrastructure Partners is moving forward with strong support from a coalition of clean energy advocates, business, labor, and community groups. The transaction is expected to close in 2025, pending approval from the Minnesota Public Utilities Commission (MPUC) and other customary closing conditions. The settlement agreement, which includes significant public interest concessions by ALLETE and investors, has been submitted to the MPUC for consideration. The transaction has already secured approvals from ALLETE shareholders, the Federal Energy Regulatory Commission, and the Public Service Commission of Wisconsin. This partnership aims to enhance ALLETE's transition to clean energy while maintaining affordable rates and reliable service, supported by new capital from experienced investors.
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