Investor Presentaiton
Base 5-year CapX plan of ~$2.2B predominantly in
support of clean energy initiatives
Estimated amounts in millions
Regulated Operations
Great Northern Transmission Line
DC Line Modernization & Upgrade
Nemadji Trail Energy Center
Base and Other
Energy Infrastructure / Related Services
ALLETE
Spent
through 2019
2020
2021
2022
2023
2024
Total
Total
2020-2024 project
Est. COD
$295
$25
$25
$320
Rider
Potential
5
45
60
80
190
305
rider/AFUDC
5
10
65
70
165
25
335
340
2025
N/A
135
135
110
120
130
630
630
ALLETE Clean Energy
South Peak
Diamond Spring
Caddo
Base and Other
Utility-like Projects
Nobles 2 Investment
Corporate and Other
(1) Total Known Projects
105
20
20
125
Early 2020
160
290
290
450
Late 2020
20
130
265
395
415
Late 2021
N/A
30
10
5 5
G
10
60
60
55
115
115
170
Late 2020
N/A
$640
15
$770
15
$495
25
$255
30
15
100
100
$380
$260
$2,160
$2,915
(1) 2020-2024 reflects the capital expenditures per the 2019 Form 10-K, and also includes ALLETE's investment in the Nobles 2 project and the ALLETE Clean Energy Caddo and updated DC Line Modernization & Upgrade projects.
Potential opportunities not included in the table above support 5-7% growth objective
Additional renewable platform opportunities creates more
upside
• Maintain 8% ownership;
•
.
Acquisition of existing renewables
• ATC's 2020 10-year capital investment forecast calls for
$2.9 $3.5B in system improvements and expansion
Upside opportunities with DC transmission line optionality
and available land rights
•
•
.
Build, own, transfer for fee
Additional investment expected in distribution system
hardening; >$150M through 2029
Adding to rate base to enhance services and customer
experience
Expanding natural gas footprint
Building community solar garden and reviewing other clean
energy opportunities
•
PTC projects
ALLETE
clean energy.
ALLETE
ALLETE
SWL&P
AMERICAN TRANSMISSION COMPANY
15
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