M&A Deal Summary

ALLETE Clean Energy Acquires NRG Energy 108MW Storm Lake 1 Wind Farm

On December 18, 2014, ALLETE Clean Energy acquired renewable energy company NRG Energy 108MW Storm Lake 1 Wind Farm from NRG for 15M USD

Acquisition Highlights
  • This is ALLETE Clean Energy’s 2nd transaction in the Renewable Energy sector.
  • This is ALLETE Clean Energy’s 5th largest (disclosed) transaction.
  • This is ALLETE Clean Energy’s 3rd transaction in the United States.
  • This is ALLETE Clean Energy’s 1st transaction in Iowa.

M&A Deal Summary
Date 2014-12-18
Target NRG Energy 108MW Storm Lake 1 Wind Farm
Sector Renewable Energy
Buyer(s) ALLETE Clean Energy
Sellers(s) NRG
Deal Type Divestiture
Deal Value 15M USD

Target

NRG Energy 108MW Storm Lake 1 Wind Farm

Iowa, United States
The 108MW Storm Lake 1 Wind Farm in Iowa of NRG Energy comprises wind farm with production capacity of 108 megawatt.

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Buyer(S) 1

Buyer

ALLETE Clean Energy

Duluth, Minnesota, United States
Category Company
Founded 2011
Sector Renewable Energy
DESCRIPTION

ALLETE Clean Energy develops capital projects to create energy solutions by way of wind, solar, biomass, hydro, natural gas, shale resources, clean coal technology and other emerging energy innovations.

DEAL STATS #
Overall 3 of 5
Sector (Renewable Energy) 2 of 4
Type (Divestiture) 3 of 5
State (Iowa) 1 of 1
Country (United States) 3 of 5
Year (2014) 3 of 3
Size (of disclosed) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-24 ALLETE Clean North Dakota Wind Farm

Hettinger, North Dakota, United States

ALLETE Clean North Dakota Wind Farm power project, located near Hettinger, North Dakota, and comprised of 43 turbines producing 107.5 MW of electricity, is slated for completion.

Sell $200M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-16 EDF Renewable 97.5 MW Wind Generation Facility

Lake Benton, Minnesota, United States

EDF Renewable 97.5 megawatt (MW) wind generation facility,producing electricity under existing power purchase agreements.

Buy $48M

Seller(S) 1

SELLER

NRG

Houston, Texas, United States
Category Company
Founded 1989
Sector Utilities
Employees18,131
Revenue 28.8B USD (2023)
DESCRIPTION
Entrance to an NRG office in downtown Houston, Texas.
Entrance to an NRG office in downtown Houston, Texas.

NRG is a wholesale power generation company. NRG engages in the ownership, development, construction, and operation of power generation facilities; the transacting in and trading of fuel and transportation services; and the trading of energy, capacity and related products in the US and select international markets. NRG was formed in 1989 and is based in Houston, Texas.

DEAL STATS #
Overall 2 of 8
Sector (Renewable Energy) 1 of 1
Type (Divestiture) 2 of 7
State (Iowa) 1 of 1
Country (United States) 2 of 8
Year (2014) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-01 Pure Energies

Toronto, Ontario, Canada

Pure Energies advises homeowners on residential solar systems and home conservation products to help them save money and make a difference for their communities. The company helps enable customers to make smart decisions about home solar adoption. Through a unique online platform, Pure Energies identifies and provides detailed analysis of the customer’s home solar feasibility versus their energy needs.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-08 NRG Energy - Engine Services Business Unit

Princeton, New Jersey, United States

NRG Energy, Inc. - Engine Services Business Unit is a provider of parts and services for large-bore engines and natural gas reciprocating compressors.

Sell -
Mergr

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