(ALE) Allete - Ratings and Ratios

ALLETE, Inc. (NYSE:ALE), a company with a rich history dating back to its incorporation in 1906, operates as a diversified energy enterprise, balancing tradition with innovation. Headquartered in Duluth, Minnesota, ALLETE was formerly known as Minnesota Power, Inc. before its name change in 2001. The company is structured into three main segments: Regulated Operations, ALLETE Clean Energy, and Corporate & Other, each contributing to its strategic diversification in the energy sector.

The Regulated Operations segment is a cornerstone of ALLETEs business, providing essential utility services to approximately 150,000 retail customers in northeastern Minnesota, 15,000 electric customers in northwestern Wisconsin, and 13,000 natural gas customers in the same region. This segment ensures reliable energy delivery, underpinned by a robust infrastructure that includes 162 substations with a total capacity of 9,980 megavolt-amperes, serving industries such as taconite mining and paper production.

Complementing its regulated business, ALLETE Clean Energy is at the forefront of the companys renewable energy initiatives. With a portfolio of approximately 1,200 megawatts of wind energy generation, this segment underscores ALLETEs commitment to sustainability. The company actively develops and acquires clean energy projects, strategically positioning itself to capitalize on the growing demand for renewable energy while enhancing its portfolios environmental credentials.

ALLETEs infrastructure extends beyond generation to include significant transmission assets across Wisconsin, Michigan, Minnesota, and Illinois, facilitating efficient energy distribution across the region. This extensive network not only supports operational reliability but also positions ALLETE as a key player in regional grid stability and energy security.

Beyond its core energy operations, ALLETE diversifies its investments through coal mining in North Dakota and real estate ventures in Florida. These activities contribute to a balanced portfolio, offering both stability