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ALLETE Clean Energy, Xcel Energy Sign New Contracts for Existing Southern Minnesota Wind Site

December 3, 2018

DULUTH, Minn.--(BUSINESS WIRE)--Dec 3, 2018--ALLETE Clean Energy, a wholly owned subsidiary of ALLETE (NYSE: ALE), has approved new 5-year power sale agreements between its Viking wind facilities in southern Minnesota and Xcel Energy.

“We are pleased to collaborate with Xcel Energy to create a power contract extension that continues to provide clean, affordable and reliable energy to its customers, while providing greater revenue certainty for our ALLETE investors, consistent with our strategy,” said ALLETE Clean Energy President Allan S. Rudeck Jr. “ALLETE Clean Energy continues to expand its collaborative track record with our customers to deliver creative and innovative clean energy resources they expect while efficiently operating and optimizing our facilities. Xcel Energy continues to demonstrate their pioneering innovation in preserving and extending power purchase agreements with their suppliers, both large and small, in providing clean energy to Upper Midwest customers.”

The Viking facilities, with a combined capacity of 12 megawatts near Lake Benton, Minnesota, and the larger Chanarambie wind project nearby, make up ALLETE Clean Energy’s Northern Wind unit. The Chanarambie site also is contracted to Xcel Energy.

Viking was developed by EDF Renewable Energy, and the eight General Electric turbines began commercial operation in 2003. The wind site was acquired by ALLETE Clean Energy in 2015. The site’s original 15-year power sale agreements were set to expire in December 2018.

ALLETE Clean Energy was established in 2011 to acquire or develop capital projects to create energy solutions by way of wind, solar, biomass, hydro, natural gas, shale resources, clean coal technology and other emerging innovations.

ALLETE Inc. is an energy company headquartered in Duluth, Minnesota. In addition to its electric utilities, Minnesota Power and Superior Water, Light and Power of Wisconsin, ALLETE owns ALLETE Clean Energy, based in Duluth; BNI Energy in Bismarck, North Dakota; U.S. Water in St. Michael, Minnesota; and has an eight percent equity interest in the American Transmission Co. More information about ALLETE is available at www.allete.com. ALE-CORP

The statements contained in this release and statements that ALLETE may make orally in connection with this release that are not historical facts, are forward-looking statements. Actual results may differ materially from those projected in the forward-looking statements. These forward-looking statements involve risks and uncertainties and investors are directed to the risks discussed in documents filed by ALLETE with the Securities and Exchange Commission.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181203005734/en/

CONTACT: Amy Rutledge

Manager - Corporate Communications

218-723-7400

arutledge@allete.com

KEYWORD: UNITED STATES NORTH AMERICA MINNESOTA

INDUSTRY KEYWORD: ENERGY ALTERNATIVE ENERGY COAL UTILITIES OTHER ENERGY

SOURCE: ALLETE Inc.

Copyright Business Wire 2018.

PUB: 12/03/2018 04:15 PM/DISC: 12/03/2018 04:15 PM

http://www.businesswire.com/news/home/20181203005734/en

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