The Wild made the announcement Tuesday, along with the signing of centre Jeff Taffe to a one-year, two-way contract and the appointment of John Torchetti as head coach of their AHL affiliate in Houston.
Powe was a restricted free agent, acquired last week in a trade with Philadelphia for a third-round pick in the 2013 draft. The 26-year-old can play centre or wing. Terms were not disclosed.
Torchetti has been an assistant with five NHL teams, including stints as interim head coach with Florida (2004) and Los Angeles (2006).
The 30-year-old Taffe is a former University of Minnesota star and native of Hastings, Minn., who has 44 points in 175 career NHL games.