ALLETE, Inc. one of the major wind farm operators in Oklahoma and headquartered in Minnesota recorded increased earnings in the third quarter.
The company’s earnings were $1.49 per share on net income of $85.9 million, far better than a year ago when earnings were 59 cents a share and $33.7 million.
“We are pleased with our solid financial results this quarter and the positive momentum going into the end of the year,” said ALLETE Chair, President, and Chief Executive Officer Bethany Owen.
ALLETE operates the Caddo wind farm in western Oklahoma and the Diamond Spring wind farm near Ardmore. The 300-megawatt Caddo wind site was ALLETE’s second site to generate renewable energy for the commercial and industrial power market. It is contracted to the McDonald’s Corp. and the OshKosh Corp,
ALLETE’s first operation, the Diamond Spring wind site, is also 300 megawatts and contracted to Walmart, Starbucks and Smithfield Foods.