May 2 (Reuters) - U.S. investment management company

Global Infrastructure Partners and Canada's pension fund CPP

Investments are nearing a deal to buy clean energy company

Allete ( ALE ), and a deal could be announced soon, a source

familiar with the matter told Reuters.

Reuters had reported in December that Allete ( ALE ), a power

utility and energy developer headquartered in Duluth, Minnesota,

was exploring a sale of the company.

GIP and CPP declined to comment on the FT report, while

Allete ( ALE ) did not immediately respond to a Reuters request for

comment.

The Financial Times, which had earlier reported the deal,

said it was for around $5 billion.

Allete ( ALE ), which operates wind, solar, coal-fired, biomass and

hydroelectric power generation assets across the Upper Midwest,

plans to invest around $3.3 billion in clean energy initiatives

and transmission projects by 2027.