Allete completes acquisition of New Energy Equity for $165m

▤ Summary

In March this year, Allete had signed a definitive agreement to acquire 100% of New Energy Equity. New Energy Equity will continue to be headquartered in Maryland along with its entire management team. It will also continue operations at its offices located in Roseville, Minnesota, and Boulder, Colorado. Allete chair, president and CEO Bethany Owen said: “We’ve been signalling our move into the solar industry for some time, and as we met with New Energy Equity’s leadership team we knew we had found the right company to position us well. “The team brings a depth of distributed and community solar expertise and experience to Allete, along with a proven track record of financial success.

▦ Linked Companies