ALLETE announces third partner in Nemadji Trail Energy Center Project

Tuesday, September 28, 2021

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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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Category: Investors