Allete to Buy AES Wind Farm Stakes for $27 Million

Allete Inc. (ALE), a Minnesota energy company, agreed to buy AES Corp.’s stakes in three wind farms in Minnesota, Iowa and Oregon for $27 million.

The sale is expected to close in early 2014 and also provides Allete an option to buy a 101-megawatt wind farm in Pennsylvania in 2015, Duluth, Minnesota-based Allete said today in a statement. The size of the AES stakes weren’t disclosed. The three wind farms have total capacity of 231 megawatts.

To contact the reporter on this story: Ehren Goossens in New York at egoossens1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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