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ALLETE Clean Energy Announces Renewable Energy Sale Agreements with Two More Fortune 500 Companies for Caddo Wind Site in Oklahoma

10 Feb 2021

ALLETE Clean Energy, a wholly owned subsidiary of ALLETE, Inc. (NYSE: ALE), announced renewable energy sale agreements with the Oshkosh Corporation and Hormel Foods for a combined 100 megawatts from its Caddo wind site under construction in Oklahoma.

The 303-megawatt Caddo site, with renewable energy sale agreements with three investment-grade Fortune 500 customers, will double ALLETE Clean Energy’s capacity to serve the accelerating corporate demand for clean energy. The project is in Caddo County in southern Oklahoma.

“We’re proud to work with two leading Upper Midwest corporations to help them achieve their sustainability goals with Caddo’s renewable energy,” said ALLETE Clean Energy President Allan S. Rudeck Jr. “Projects like Caddo help diversify and decarbonize the nation’s energy supply while strengthening local economies. We are grateful for our partnerships with landowners, communities and lawmakers, who have together created a business environment in Oklahoma that encourages and enables 21st century energy infrastructure investment.”

The project has the support of local communities, where benefits include more than $50 million in tax revenue, $54 million in payments to landowners, and the creation of about 200 jobs during construction and 12 to 15 long-term operations jobs.

Global innovator Oshkosh Corporation has been named one of FORTUNE’s World’s Most Admired Companies, one of America’s Most Responsible Companies by Newsweek, one of the Top 100 Most Sustainable Companies by Barron’s and is listed on the Dow Jones Sustainability Index. Oshkosh Corporation’s sustainability efforts are focused into four core areas including empowering people, building communities, innovation and creating a sustainable future. Specifically around waste and emission reduction, Oshkosh has a goal of a 25% reduction in normalized greenhouse gas emissions at its facilities by 2024 when compared with 2014.

“At Oshkosh Corporation, we are committed to sustainable operations, caring for our communities and practicing strong corporate governance,” said Kevin Tubbs, Oshkosh Corporation vice president and chief ethics, compliance and sustainability officer. “Involvement in projects such as the Caddo wind site is one of many ways that we continue to further our sustainability goals.”

Hormel Foods, named one of America’s Most Responsible Companies by Newsweek and one of the 100 Best Corporate Citizens by 3BL Media, recently announced its goal to match 100% of its energy with renewable sourcing by 2030. The Caddo wind site will help the company achieve around 50% of its goal when the project is completed.

“This project is a great addition to our clean energy portfolio,” said Tom Raymond, director of environmental sustainability for Hormel Foods. “Using renewable sources like wind not only helps the environment, but it makes long-term financial sense, supports local communities and demonstrates that we are committed to being good stewards to the planet.”

Caddo’s approximately 110 turbines will produce enough energy to power the equivalent of about 110,000 homes, and increases ALLETE Clean Energy’s total operating, under construction and build-transfer wind energy projects to more than 1,450 megawatts of nameplate capacity. The company’s recent growth has come through serving new commercial and industrial customers through the Diamond Spring and Caddo projects in Oklahoma. ALLETE Clean Energy purchased both sites from Apex Clean Energy and, as at Diamond Spring, the two companies will work together to finalize development and construction of Caddo.

“ALLETE’s strategy of sustainability in action is powered by clean energy projects such as Caddo,” said ALLETE President and Chief Executive Officer Bethany Owen. “ALLETE Clean Energy is increasingly seen as a trusted partner as it brings more renewable energy online to help corporations meet their commitments to sustainability.”

The Caddo site is expected to be operational by the end of 2021 and qualify for the safe harbor provision of federal renewable energy production tax credits. ALLETE Clean Energy continues to own an inventory of safe harbor turbines and is exploring additional opportunities to put more of them to use to serve customers.

ALLETE I http://www.allete.com

Hormel Foods Corporation | http://www.hormelfoods.com

Oshkosh | https://oshkoshcorp.com