Allete raises tax equity financing for 80-MW wind park in Montana

Wind farm. Author: Samir Luther. License: Creative Commons, Attribution-ShareAlike 2.0 Generic

May 5 (Renewables Now) - Allete Clean Energy, the wind unit of US energy company Allete Inc (NYSE:ALE), on Tuesday said that at the end of April it raised tax equity financing for its 80-MW wind farm in Montana through a deal with JPM Capital Corporation.

As part of the deal, JPM Capital bought Class A passive membership interests in Great American West Wind LLC. In a similar transaction in January, Allete raised funding for its 106-MW wind farm in North Dakota, the Glen Ullin Energy Center, which became operational in December.

The South Peak wind farm is located near Great Falls and became operational in the middle of last month. It sells the power it generates to  NorthWestern Energy under a 15-year power purchase agreement (PPA).

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Before joining Renewables Now, Alex was a UK-focused business news reporter. Now she is covering global news from the renewable energy industry with a special interest in M&A.

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