Why Is BlackRock Gunning to Take Over a Minnesota Electric Utility?

4 weeks ago 4
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Who will own our energy future? There’s a battle playing out in northern Minnesota with major ramifications for this question. It centers on the region’s main investor-owned electric utility, Minnesota Power, whose parent company, Allete, struck a deal in May 2024 to be acquired and taken private for $6.2 billion by two entities: Global Infrastructure Partners (GIP), which is fully owned by…

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