Allete Clean Energy Added New Customer Segment Through Power Purchase Agreement With Seattle City Light
Portfolio Pulse from Charles Gross
ALLETE Clean Energy, a subsidiary of ALLETE, Inc. (NYSE:ALE), has signed a 5-year power purchase agreement (PPA) to sell wind power to Seattle City Light, marking its entry into a new customer segment. The agreement also includes a provision to explore adding solar energy and/or energy storage capacity at the Condon site in northern Oregon.
July 25, 2023 | 10:37 am
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ALLETE's subsidiary has entered a new customer segment with a 5-year PPA with Seattle City Light. This could potentially increase ALLETE's revenues and diversify its customer base.
The agreement with Seattle City Light, one of the largest municipal utilities in the nation, opens up a new customer segment for ALLETE. This could lead to increased revenues and customer diversification for the company. The potential addition of solar energy and energy storage capacity could further enhance ALLETE's product offerings and market reach.
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