Allete completes the $165 million acquisition of New Energy Equity 

Allete, a US-based energy company, has completed the previously announced acquisition of New Energy Equity for $165.5 million. Allete signed a binding agreement to acquire 100 per cent stake in New Energy Equity in March 2022. New Energy Equity is a distributed solar developer based in Annapolis, Maryland, that has completed over 250 distributed solar projects in the US totaling over 330 MW.

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