In northern Minnesota, a significant debate surrounds the $6.2 billion acquisition of Minnesota Power, the region's main electric utility, by Global Infrastructure Partners and the Canada Pension Plan Investment Board. While proponents claim the deal will facilitate necessary clean energy investments to meet carbon-free targets by 2040, a coalition of local activists and regulators oppose it, fearing private equity control will undermine affordability and transparency. With federal approval secured, the final decision rests with Minnesota's Public Utility Commission, with public hearings and recommendations ongoing.
"The deal would place a vital utility in the private grip of a global financial juggernaut, raising concerns about affordability and transparency for local ratepayers."
"Opponents argue the public benefit of the deal has not been demonstrated, fearing it may prioritize profits over service and accountability."
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