ALLETE Acquires New Energy Equity Solar Developer
April 15, 2022
ALLETE, Inc. signed a definitive agreement to acquire 100% of New Energy Equity LLC, a distributed solar developer, for approximately $165.5 million (subject to working capital adjustment). The transaction was later closed, with ALLETE expanding its sustainability-focused strategy and renewable energy capabilities.
- Buyers
- ALLETE, Inc.
- Targets
- New Energy Equity LLC
- Industry
- Renewable Energy
- Location
- Maryland, United States
- Transaction Type
- Buyout
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