In a move that’s raising alarms across the nation, BlackRock through its 2024 acquisition of Global Infrastructure Partners (GIP) has surged into direct ownership of U.S. energy infrastructure, shifting from passive investor to hands on controller of critical utilities and grids. The Minnesota Public Utilities Commission approved a $6.2 billion takeover of Allete, parent of Minnesota Power, by a BlackRock led consortium with Canada Pension Plan in October 2025, granting private equity majority control over power serving 150,000 customers. Meanwhile, GIP is in advanced talks for a potential $38 billion acquisition of AES Corporation, a major player with renewable assets...