Minnesota

In Minnesota, BlackRock Is Acquiring Vital Infrastructure

Published

6 months ago

October 12, 2025

In Minnesota, BlackRock Is Acquiring Vital Infrastructure

In a landmark case with national implications, Democratic Governor Tim Walz’s regulators have greenlit a private equity giant’s acquisition of one of the Midwest’s largest power companies.

Critics argue that the precedent-setting case opens the doors to a new wave of Wall Street behemoths buying up utilities across the country to cash in on skyrocketing electricity rates — and to drive those rates even higher.

For over a year, BlackRock has been battling to take over Minnesota Power, a utility company that keeps the lights on for more than one hundred thousand customers in northern Minnesota. As the Lever uncovered in an August investigation, the private equity behemoth muscled support from labor unions and so-called clean energy groups in Minnesota this summer to help push through the deal, despite widespread opposition.

On October 3, the Minnesota Public Utilities Commission, whose members were all appointed by Walz, voted unanimously to approve the $6.2 billion deal, in which BlackRock will acquire Minnesota Power’s parent company, Allete, taking it private.

Proponents of the acquisition have argued that BlackRock will provide the electric company the capital it needs to prepare for the climate transition, although this summer, a Minnesota judge overseeing the case disputed those claims, finding conclusively that such a deal could spike rates and harm Minnesota Power’s customers, and cast doubt on the conflicts of interest behind the deal’s backers.

Advocates say Minnesota Power’s acquisition by a global private equity firm is the first deal of its kind, but it likely won’t be the last. In recent months, BlackRock has been gearing up to acquire power infrastructure all around the country, all through its infrastructure investment arm, Global Infrastructure Partners. The firm is seeking to profit from the enormous energy demands of the AI boom, which have spurred data center construction nationwide and in turn led to higher electric bills for regular consumers.

Just before the Minnesota vote, news broke that BlackRock was also in talks to purchase Aligned Data Centers, a company that owns nearly eighty data centers around the world. Last week, the Financial Times reported that BlackRock’s Global Infrastructure Partners was nearing a deal to buy up AES, one of the nation’s biggest power plant companies.

Already, electricity costs for ratepayers are spiking across the United States, in part because electric utilities, in many places, operate as monopolies that are effectively unaccountable to the customers they serve. But handing our power grid over to private equity — whose extractive business model relies on securing fast returns for investors — could make things much worse, advocates warn.“Private equity ownership of Minnesota Power will likely mean higher bills, less accountability, and more risk for Minnesotans,” Alissa Jean Schafer, the climate and energy director at the Private Equity Stakeholder Project, a watchdog group, said in a statement following news of the deal. “BlackRock’s short-term profit model is simply incompatible with the long-term needs of a public utility.”

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Minnesota

Driver who fatally struck bicyclist in Minneapolis may have been impaired, police say

Published

6 hours ago

April 21, 2026

Press Room

Driver who fatally struck bicyclist in Minneapolis may have been impaired, police say

Minneapolis police suspect a driver was under the influence when he hit and killed a bicyclist on the city’s southside early Monday morning.

Officers responded to the crash at the intersection of Hiawatha Avenue and East 35th Street around 3 a.m., according to the Minneapolis Police Department.

Upon arrival, police found a man in his 50s suffering from apparent life-threatening injuries. Officers provided immediate medical aid, including CPR, before the man was transported to Hennepin Healthcare, where he later died.

The Minneapolis Police Department says that preliminary information indicates the driver, a 23-year-old man, had been traveling south on Hiawatha Avenue in a Ford Edge when he struck the bicyclist.

Officers arrested the driver and took him to the hospital, where police say “a search warrant for evidence collection was carried out.” Police later booked the driver into Hennepin County Jail on suspicion of criminal vehicular homicide.

The incident is still under investigation.

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Minnesota

I-94 rest area in Minnesota closed until Independence Day for $2.9M improvement project

Published

18 hours ago

April 20, 2026

Press Room

I-94 rest area in Minnesota closed until Independence Day for .9M improvement project

A rest area along Interstate 94 in Minnesota has been closed to trucks until about Independence Day to accommodate an almost $3 million improvement project.

The eastbound I-94 Enfield rest area between St. Cloud, Minnesota and the Twin Cities between Wright County Road 8 and Highway 25 is now closed to cars and commercial vehicles as crews resurface the entrance and exit ramps, and update nearby sidewalks.

According to KNSI, the full closure is just the first phase of the project. The rest area will reopen to passenger vehicles only the week of May 11th. During that time, the truck parking area will remain closed as crews repave the lot.

The truck parking lot will reopen the week of June 30th, right around Independence Day. During that time, the passenger vehicle area will be shut down to allow for the resurfacing of the lot. The Minnesota DOT expects the rest area to be fully open by late July. The entire project is expected to cost $2.9 million.

Drivers heading east on I-94 are encouraged to use the Big Spunk Lake rest area near Avon, or to drive a little farther out to the Elm Creek rest area.

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Minnesota

UCLA baseball remains perfect in Big Ten by beating Minnesota

Published

1 day ago

April 20, 2026

Press Room

UCLA baseball remains perfect in Big Ten by beating Minnesota

Could a UCLA baseball team that’s perfect in Big Ten play get better?

Bruins coach John Savage thinks so, which is a frightening prospect for the rest of a seemingly overmatched conference.

While Savage’s top-ranked Bruins completed a three-game sweep of Minnesota on Sunday with a 5-2 victory at Jackie Robinson Stadium — stretching their Big Ten winning streak to 21 games — he said there’s more upside to be realized.

UCLA’s Payton Brennan and his teammates are still undefeated in Big Ten play this season after sweeping Minnesota on Sunday. Ross Turteltaub

“Offensively, we just really couldn’t get a lot going,” Savage said after his team went 1-for-5 with runners in scoring position and stranded six baserunners. “We just weren’t able to put a lot together, but when that pitching and defense shows up every day, it gives yourself a chance to win, and that’s kind of what we did all three games, really.”

Those elements were so good Sunday that they overshadowed Roman Martin’s solo homer in the third inning and Will Gasparino’s two-run shot in the sixth.

Bruins left fielder Dean West made three superb catches — two leaping and one diving — and four relievers combined to give up only one run in 4 ⅔ innings. Closer Easton Hawk needed only six pitches to record a 1-2-3 ninth inning while notching his third save in as many days.

Savage credited Minnesota’s pitching after the Golden Gophers (22-17 overall, 5-13 Big Ten) held the Bruins (36-3) to an average of five runs during the series and said many of his team’s offensive struggles were situational.

“We have very, very good offensive players — some of them are in … little ruts right now, but that’s OK,” Savage said. “These guys play a lot and get a lot of at-bats; there’s a lot of ups and downs.”

When it comes to UCLA’s conference record, it’s all been up.

What it means

UCLA’s sweep is further evidence that the Bruins aren’t getting complacent because of their record.

“This culture is really solid, and these guys truly believe in one another and they’re playing for the team,” Savage said. “We’re very fortunate to have this group, and so they love playing together, so there’s no complacency and there’s no reason to because we haven’t done anything; I mean, you’re 36-3, that’s great, but at the end of the day it’s about getting better and playing your best baseball the next 75 days.”

Turning point

Spotting a dominant team an early lead is never a good idea.

That’s what happened when the Bruins struck for two runs in the bottom of the first inning.

West led off with a single to center field, took third on Roch Cholowsky’s double to left and scored on a balk. With one out, Martin hit an RBI infield single off the pitcher’s glove. UCLA was up 2-0, and the Golden Gophers could never catch up.

Did you see that?

Minnesota did not like it when Gasparino admired his home run by lingering in the batter’s box before commencing his trot around the bases.

There was consensus in both dugouts because Savage also didn’t care for it.

“I thought he probably stayed in the box a little too long for me,” Savage said. “That’s kind of not who we are, and they didn’t like that; I wouldn’t like that either, really.”