ALLETE completed the acquisition of New Energy Equity for $166m.

ALLETE, an electric services company, completed the acquisition New Energy Equity, a solar developer, for $166m. "We’ve been signaling 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. The addition of New Energy Equity enhances our strong portfolio of companies and capabilities and opens new growth opportunities as we lead the way to a sustainable energy future," Bethany Owen, ALLETE Chair, President and CEO.