ALLETE Clean Energy Inc. secured tax equity funding for two wind farms in North Dakota and Montana, the company announced Jan. 9.
The ALLETE Inc. subsidiary sold class A passive membership interests in Great American West Wind LLC to JPMorgan Capital Corp. on Dec. 30, 2019. The deal will support the 106-MW Glen Ullin facility in North Dakota and generate future funding for the 80-MW South Peak project in Montana.
Glen Ullin started commercial operations in December 2019 and delivers power to Xcel Energy Inc. subsidiary Northern States Power Co. - Minnesota under a 20-year agreement. South Peak will sell power to NorthWestern Corp. under a 15-year agreement.
South Peak is expected to start energy production in the next few weeks, at which point JPM Capital will purchase additional class A passive membership interests, the company said.