Basin Electric joins as third NTEC partner
Sept. 28, 2021
Basin Electric Power Cooperative (Bismarck, N.D.) is joining the planned Nemadji Trail Energy Center (NTEC) project as a third partner. ALLETE, Inc., announced on Sept. 28 it is selling a portion of its ownership stake in NTEC to Basin.
“Dairyland welcomes Basin as a new cooperative partner to share in the reliable and flexible Nemadji Trail Energy Center,” said Brent Ridge, Dairyland Power Cooperative President & CEO. “Like Dairyland, Basin leads with a strong commitment to its members and local communities. NTEC is critical for helping meet our diversification goals, ensuring safe and reliable electricity as we transition to a lower carbon future.”
ALLETE’s Minnesota Power (Duluth, Minn.) ownership in the facility will be modified from 50 percent to 20 percent. Basin Electric Power Cooperative will be a 30 percent owner. Dairyland’s position in the Nemadji Trail Energy Center remains the same. Dairyland will remain a 50 percent owner and Minnesota Power will remain the facility constructor and operator.
The partnership news does not change the size or scope of the facility. “Our shared objective is to ensure the continued delivery of safe, reliable and affordable power to all of our members and customers, 24 hours a day, 365 days a year in an environmentally conscientious way,” said Ridge.
ALLETE news release: https://investor.allete.com/news-releases/news-release-details/allete-an...