According to the Journal Sentinel, Superior Power & Light Co. in Wisconsin is creating a clean energy business with its parent company in wind, hydropower, and biomass projects located in the Upper Midwest. The unit will also explore investments in natural gas and liquefied fossil fuels.
Allete Inc., based in Duluth, Minnesota, announced the formation of the clean-energy unit, saying it will target investments of $50 million to $150 million. “There’s a need for electric power that’s less carbon intensive — whether from the wind or sun, biomass, or cleaner fossil fuels,” said Eric Norberg, the new unit’s president. “We intend to help fill that need beyond the boundaries of our regulated service territory.”
Allete also operates coal mines in North Dakota and owns an 8% stake in Pewaukee-based power line utility American Transmission Co. Analyst David Parker at Robert W. Baird & Co. said the investment could provide additional sources of income for the organization outside its regulated utilities. The company owns or leases 60,000 acres of land in North Dakota to facilitate development of about 600 megawatts of new wind generation, he said. “This acreage is wind-rich with capacity factors twice the national average (43%-45%), making wind a more economical alternative to fossil fuel generation when compared to other areas of the country/world,” Parker said.
The importance of keeping the environment safe is crucial to our own well-being. But have you ever thought about the health of your own business? Here at Community Insurance, we are focused on you and your passion. This is why we will do whatever it takes to keep you satisfied and provide you with the best Wisconsin business insurance around!
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The commonly required policies for business insurance in Wisconsin include workers compensation, unemployment, and disability insurance. However, these options may not be enough for your unique situation. Therefore, our agency also offers some of the following coverages: Business owners policies (BOP), commercial property, commercial auto, and general liability. Companies come in all variations of shape and size, which is why we make a point to personalize each business insurance policy we write. So as you give back to Mother Earth, let us take care of your well being with our reliable Wisconsin business insurance!