ALLETE announces third partner in Nemadji Trail Energy Center Project
Tuesday, September 28, 2021
Basin Electric joins Dairyland Power and ALLETE as an investor and owner of the planned Superior, WI plant
ALLETE announced today it is selling a portion of its ownership stake in the planned Nemadji Trail Energy Center (NTEC) to North Dakota-based Basin Electric Power Cooperative for approximately $20 million. Basin Electric will become a 30 percent owner in the facility through its wholly owned subsidiary Nemadji River Generation LLC. ALLETE will retain a 20 percent ownership stake in the NTEC project through its subsidiary South Shore Energy LLC, with an expected total investment by ALLETE of approximately $140 million. Dairyland Power Cooperative will remain a 50 percent owner of the planned facility.
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