Allete, Inc. (NYSE: ALE) is a diversified energy company headquartered in Duluth, Minnesota, whose core operations span regulated electric utility services, renewable energy development and complementary energy-related businesses. Through its principal subsidiary, Minnesota Power, the company delivers electricity to residential, commercial and industrial customers across northeastern Minnesota, leveraging a mix of hydroelectric, coal-fired and natural gas–fired generation assets.
In addition to its utility operations, Allete has expanded into renewable energy through ALLETE Clean Energy, a division focused on the development, ownership and operation of wind and solar projects in the United States. These efforts support broader industry trends toward decarbonization and provide long-term contracted revenue streams. The company’s renewable portfolio includes both utility-scale wind farms and distributed solar installations.
Allete also operates BNI Energy, which owns and manages lignite mining operations in North Dakota, supplying fuel to power plants under long-term contracts. Complementing its energy production businesses, the company provides water treatment equipment and services through its U.S. Water subsidiary, addressing industrial and municipal water filtration and purification needs.
Founded in 1906 as Minnesota Power & Light, Allete has evolved into a multi-faceted energy holding company serving customers primarily in the Upper Midwest. Under the leadership of Chairman, President and Chief Executive Officer Al Hodnik, the company continues to pursue opportunities in clean energy expansion while maintaining reliable service in its regulated utility footprint.
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