DULUTH, Minn. (Northern News Now) - A hearing that took place on Thursday in St. Paul will determine the future of Minnesota Power and the services offered to its electric customers in northeast Minnesota.

Since the proposed acquisition of ALLETE, parent company to Minnesota Power, was first announced in May 2024, many concerns have been raised about private equity firms purchasing the utility.

That debate continued to play out at the hearing on Thursday where ALLETE was joined by private equity firm Canadian Pension Plan Investments (CPP) as well as Global Infrastructure Partners (GIP), which is owned by the world’s largest asset manager BlackRock.

Should the $6.2 billion acquisition move forward, CPP and GIP would be the new owners of Minnesota Power.

Duluth State Senator Jennifer

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