DULUTH, Minn.--(BUSINESS WIRE)--
Minnesota Power today is releasing the first in a series of Requests for
Proposals as part of the company's broad resource evaluation process to
further its EnergyForward strategy. EnergyForward calls for a
diversified power supply to meet customers' needs reliably and cost
effectively in an environmentally responsible manner. Minnesota Power
will consider the costs and characteristics of the proposals received
and analyze whether they are beneficial resource additions for its
customers.
In approving Minnesota Power's integrated resource plan in June, the
Minnesota Public Utilities Commission asked the company to consider
additional wind, solar and demand-side management alternatives as part
of its ongoing resource evaluation process.
In the initial Request for Proposal, Minnesota Power, a division of
ALLETE Inc. (NYSE:ALE), is seeking power supply proposals for up to 300
megawatts of wind generation beyond the 625 megawatts of wind it has on
its system. The company seeks to purchase low-cost renewable energy that
fully maximizes the benefits of the extended Federal Production Tax
Credit (PTC) for wind projects on behalf of its customers. This wind
power would be purchased under a long-term power purchase agreement
subject to regulatory approvals. A copy of the RFP and additional
details are available at http://rfp.mnpower.com.
Proposals are due by Sept. 7, 2016.
Over the next several weeks, Minnesota Power also will issue formal
Requests for Proposals for:
-
Solar generation. Minnesota Power will be seeking economic power
supply proposals for up to 300 MW of utility scale solar generation
that qualifies under Minnesota's Solar Energy Standard. The company
seeks to maximize the benefits of the extended Federal Investment Tax
Credit (ITC) for solar energy on behalf of its customers.
-
Demand response and customer self-generation. Minnesota Power will be
seeking customer and utility scale demand response and onsite
generation resources to be considered for optimizing within its power
supply portfolio.
More information and the ability to sign up for RFP notifications on any
of the options can be found at http://rfp.mnpower.com.
Through its EnergyForward resource strategy, Minnesota Power has
been transforming its energy supply to a more balanced mix that relies
less on coal and more on renewable energy sources while continuing to
deliver safe, reliable and affordable electric service. The company met
Minnesota's Renewable Energy Standard, which requires 25 percent of
retail sales to be generated by renewable energy by 2025, a decade
early. By 2015, 26 percent of Minnesota Power's retail and wholesale
electric sales were from renewable energy sources.
Minnesota Power provides electric service within a 26,000-square-mile
area in northeastern Minnesota, supporting comfort, security and quality
of life for 144,000 customers, 16 municipalities and some of the largest
industrial customers in the United States. More information can be found
at www.mnpower.com.
(ALE-ENRG)
The statements contained in this release and statements that ALLETE
may make orally in connection with this release that are not historical
facts, are forward-looking statements. Actual results may differ
materially from those projected in the forward-looking statements. These
forward-looking statements involve risks and uncertainties and investors
are directed to the risks discussed in documents filed by ALLETE with
the Securities and Exchange Commission.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160727006320/en/
Minnesota Power/ALLETE
Amy Rutledge, 218-723-7400
Manager
- Corporate Communications
arutledge@mnpower.com
Source: Minnesota Power/ALLETE
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