DULUTH, Minn. (Northern News Now) - A decision Friday ends a lengthy regulatory, legal, and public battle over the future of energy production and use across northeast Minnesota.
State regulators are approving a private equity firm’s purchase of ALLETE, which owns Minnesota Power.
It’s a decision resulting in anger and celebration this afternoon, as the approval came with a number of conditions that those equities had to agree to.
The Minnesota Public Utilities Commission unanimously approved the acquisition of Minnesota Power, it’s something those who’ve spent months opposing, even protesting, hoped wouldn’t happen.
With this final approval complete, BlackRock’s Global Infrastructure Partners and the Canadian Pension Plan Investment Board will now take the northern Minnesota electric