ALLETE Clean Energy Inc., an independent power producer and supplier based in Duluth, Minnesota, has recently acquired the Caddo wind project from Apex Clean Energy. The 300-MV wind farm is located at Caddo County, Oklahoma, and is expected to become operational by 2021 end.
The Caddo wind farm will help ALLETE meet the increasing demand for clean energy from the corporate sector. The wind energy produced from the new farm will be sold to 3 Fortune 500 corporate customers. The project will ensure safe harbor provision of federal renewable energy PTC (production tax credits) by using a portion of ALLETE’s wind turbines qualified for it.
According to Allan S. Rudeck Jr., ALLETE Clean Energy’s President, the company is expected to form long-term contracts with the noteworthy off-takers, as well as sell around half of their entire wind capacity to the corporate sector. The company is dedicated to helping customers serve their purpose of reducing carbon footprint & reaching their clean energy goals. Its wind capacity is also expected to be tripled in the next four years, which, along with the alliance with Apex Clean Energy, will help generate assets to ensure long-term development of the company.
Apex Clean Energy CEO & President, Mark Goodwin has stated that Apex has formed a long-standing relationship with ALLETE in the past and is looking forward to continuing this collaboration through the recent project by working alongside leaders in corporate procurement. This project is expected to significantly advance the clean energy market to new heights. He expressed his belief that the Caddo project embodies the characteristics of an ideal wind energy project, including access to transmission and exceptional wind resource.
Bethany Owen, ALLETE’s CEO and President also commented that the procurement of the Oklahoma wind project highlights the company’s commitment to expand through sustainable performance, by offering clean energy solutions and forming a close relationship with customers, while driving shareholders’ value. The project offers favorable growth prospects to ALLETE, as it balances the energy generation between the corporate customer markets and the utility.