ALLETE INC
allete.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q3 FY2025 10-Q, filed Oct 31, 2025. Its latest SEC filing is a 15-12G from Dec 29, 2025.
10-Q for Q3 FY2025, filed Oct 31, 2025
The sections below describe the company as of the FY2024 annual report.
What Did They Do?
Provides regulated electricity, natural gas and water to households, businesses and industrial customers, and develops renewable-energy projects for buyers.
10-K for FY2024, filed Feb 13, 2025Regulated Operations includes our regulated utilities, Minnesota Power and SWL&P, as well as our investment in ATC, a Wisconsin-based…View ↗
ALLETE Clean Energy focuses on developing, acquiring, and operating clean and renewable energy projects. ALLETE Clean Energy currently…View ↗
In April 2022, a wholly-owned subsidiary of ALLETE acquired 100 percent of the membership interests of New Energy for a purchase price of…View ↗
How Did They Make Money?
Utility customers pay for electric, gas and water service as it is delivered, with monthly bills. Renewable-energy buyers pay for contracted power when delivered or for completed wind facilities and renewable projects when transferred; construction-project revenue comes in as work progresses, while coal customers pay monthly for delivered coal.
10-K for FY2024, filed Feb 13, 2025Residential and Commercial includes sales for electric, gas or water service to customers, who have implied contracts with the utility…View ↗
Long-term PSA revenue includes all sales recognized under long-term contracts for production, curtailment, capacity and associated…View ↗
Sale of Wind Energy Facility includes revenue recognized for the design, development, construction, and sale of a wind energy facility to a…View ↗
Long-term Contract encompasses the sale and delivery of coal to customer generation facilities. Revenue is recognized on a monthly basis at…View ↗
Sale of Renewable Development Projects includes revenue recognized from development only and development plus construction type projects…View ↗
$1.5B
-
10-K for FY2024, filed Feb 13, 2025
$1.5B ↗
Who Were Their Customers?
Retail and industrial customers receive regulated utility service directly; municipalities buy wholesale electricity under contracts. Renewable-energy customers contract for delivered power or buy developed projects.
10-K for FY2024, filed Feb 13, 2025Regulated Operations includes our regulated utilities, Minnesota Power and SWL&P, as well as our investment in ATC, a Wisconsin-based…View ↗
ALLETE Clean Energy focuses on developing, acquiring, and operating clean and renewable energy projects. ALLETE Clean Energy currently…View ↗
In April 2022, a wholly-owned subsidiary of ALLETE acquired 100 percent of the membership interests of New Energy for a purchase price of…View ↗
Did Revenues Turn Into Profits?
Yes. It kept 12 cents of every revenue dollar as net income in FY2024 and turned 7 cents into free cash flow.
10-K for FY2024, filed Feb 13, 2025
$160.1MView ↗
10-K for FY2024, filed Feb 13, 2025
$179.3MView ↗
10-K for FY2024, filed Feb 13, 2025
$102.2MView ↗
How Were They Changing?
-
Dec 15, 2025
CPP Investments and GIP completed acquisition of ALLETE
ALLETE became a wholly owned subsidiary, and trading of its common stock on the NYSE was suspended.
Sources
8-K, filed Dec 15, 2025
DULUTH, Minn.—ALLETE, Inc. (NYSE: ALE) (the Company) today announced the completion of its acquisition by Canada Pension Plan Investment…View ↗
Grew. Revenue grew 31% in 4 years, from $1.2B in FY2020 to $1.5B in FY2024, about 7% a year.
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