Allete (NYSE:ALE) (NYSE: ALE) is a diversified energy company headquartered in Duluth, Minnesota. Founded as Minnesota Power in 1906 and reorganized under the holding company structure in 1979, Allete has grown to serve both regulated utility customers and non-regulated markets. The company’s historical roots in providing reliable electricity to residential, commercial and industrial customers in the Upper Midwest have expanded over time to include renewable energy development and energy marketing operations.
Through its principal subsidiary, Minnesota Power, Allete delivers regulated electric service to customers in northeastern Minnesota, operating fuel-diverse generation facilities that include coal, natural gas, hydroelectric and biomass plants. The company also provides water and wastewater services through its Superior Water, Light & Power subsidiary in Wisconsin and Michigan’s Upper Peninsula. These regulated operations are underpinned by ongoing investments in grid modernization and demand-side management programs designed to enhance reliability and environmental performance.
Allete Clean Energy, a non-regulated subsidiary established in 2008, develops, owns and operates wind energy projects across the United States. Its diversified portfolio spans onshore wind farms in multiple states, supporting corporate and municipal customers under long-term offtake agreements. Additionally, BNI Energy, another non-regulated subsidiary, supplies coal and related services to industrial power producers and manufacturing operations, leveraging more than a century of expertise in fuel handling and logistics.
Guided by President and Chief Executive Officer Al Hodnik and an experienced leadership team, Allete is focused on balancing growth in renewable energy with the reliability of its regulated utility business. The company’s strategic priorities include advancing clean energy initiatives, enhancing customer engagement through digital platforms and maintaining a strong commitment to environmental stewardship. With a century-long legacy in the Upper Midwest, Allete continues to evolve its operations to meet emerging energy demands and sustainability goals nationwide.
