DULUTH, Minn. (Northern News Now) - It’s official, the Minnesota Public Utilities Commission (MPUC) has approved the sale of ALLETE, the parent company of Minnesota Power .

The unanimous vote came down before noon Friday. ALLETE will be sold to two equity partners: BlackRock’s Global Infrastructure Fund and the Canada Pension Plan Investment Board.

This $6.2 billion deal follows months of debate and pushback from groups across the state. Critics have raised concerns about possible rate hikes and reduced transparency.

The new owners committed to labor protections, including maintaining current employment levels and keeping the headquarters in downtown Duluth.

“This decision underscores the Commission’s commitment to ensuring reliable utility service at reasonable rates and protecting

See Full Page