Investor Presentaiton
ALLETE Clean Energy's significant and
growing portfolio of renewable assets
ALLETE
clean energy.
SMART. POWERFUL. AHEAD.
Technology
MW
Capacity
Net Capacity
Factor
Region
Customer
S&P
Armenia Mountain
GE
100.5
~30%
PJM
Pennsylvania
Chanarambie/Viking
Minnesota
Condon
Delmarva Power &
Old Dominion Electric Co-op
BBB+/
Stable
& A/Stable
Moody's
Baa1/
Stable &
A2/Stable
In-Service
Power Sale
Agreement
Term End
2009
2024
GE
97.5
30-35%
MISO
Northern States Power
A-/Stable
A3/Stable
2003
2023
Aa3/
Mitsubishi
50
20-25%
BPA
Bonneville Power
AA-/Stable
2002
2022
Oregon
Negative
Lake Benton
*
Zond
104
25-30%
MISO
Northern States Power
A-/Stable
A3/Stable
1998
2028
Minnesota
Storm Lake 1 *
Iowa
Zond
108
25-30%
MISO
MidAmerican Energy
AA/Stable
Aa2/Stable
1999
2027
Storm Lake 2 *
Mid-2022-90%
Zond
77
25-30%
MISO
Iowa
Alliant Energy
A-/Stable
A3/Stable
1999
2032-10%
Glen Ullin EC
GE
106
~45%
MISO
Northern States Power
A-/Stable
A3/Stable
2019
2039
North Dakota
South Peak
BBB/
Baa2/
GE
80
~40%
NWE
Montana
NorthWestern Corp
Stable
2020
2035
Stable
Walmart
AA
Aa2
2035-175 MW
Diamond Spring
GE
303
~45%
SPP
Starbucks
BBB+
Baal
Build: 2020
2035-50 MW
Oklahoma
2032-75 MW
Smithfield
BBB
Baa2
2033-200 MW
Caddo Wind
Oklahoma
TBD
303
~45%
SPP
Fortune 500
Companies
Investment
Grade
Investment
Grade
Build: 2021
2033-80 MW
2033-20 MW
Build, own, transfer projects
Thunder Spirit I
Thunder Spirit II
Nordex
Nordex
107
48
MISO
MISO
Montana-Dakota Utilities
Montana-Dakota Utilities
A-/Stable
A-/Stable
N/A
Sale: 2015
$198M sale
N/A
Sale: Oct. 2018
$81M sale
As part of wind energy facility acquisitions, ALLETE Clean Energy assumed various PSAs that were above or below estimated market prices at the time of acquisition; the resulting differences between contract prices and estimated market prices
are amortized to revenue over the remaining PSA term. Non-cash amortization is expected to be approximately $11.5 million annually in 2020 through 2023, $5.5 million annually in 2024 through 2027, and decreasing thereafter through 2032.
* Sites with on-going PTC qualifying refurbishment projects.
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