Alliant Energy's Wisconsin energy company has filed plans with the Public Service Commission of Wisconsin (PSCW) to build a wind project that will lower energy costs for Wisconsin customers starting in 2020. The proposed project will be located in North Central Iowa, which has consistently strong wind resources.
"We are providing our customers with more renewable energy that will keep rates competitive and help bolster economic development in our communities," said John Larsen, president of Alliant Energy. "Wind energy continues to play a major role in diversifying our energy mix and transitioning us to a clean energy future."
Customers will benefit directly from fuel-free renewable energy that provides long-term cost stability. The cost to build new wind projects has decreased significantly over the last several years. This is largely the result of continued technological advancements that improve turbine efficiency.
This project would add 150 megawatts of wind energy, enough to power an additional 70,000 homes. The company's Wisconsin customers already benefit from low-cost wind through Alliant Energy's ownership in three wind farms.
Alliant Energy has entered into a contract with Invenergy to purchase the project after development is complete. Invenergy is the largest privately held renewable energy company in North America. A decision from the PSCW is expected in early 2019. If approved, construction is expected to start in summer 2019. This project will not affect the company's recently announced plans to keep base rates flat through 2020.
Including this project, Alliant Energy plans to invest approximately $2 billion in cost-competitive wind energy across Iowa and Wisconsin by the end of 2020.These significant investments are helping the company achieve its target of reducing carbon dioxide by 40 percent by 2030 from 2005 levels.
Alliant Energy Corporation's Wisconsin utility subsidiary, Wisconsin Power and Light Company (WPL), utilizes the trade name of Alliant Energy. The Wisconsin utility is based in Madison, Wis., and provides electric service to 470,000 retail customers and natural gas service to 190,000 retail customers across central and southern Wisconsin. The employees of Alliant Energy focus on delivering the energy solutions and exceptional service their customers and communities expect – safely, efficiently and responsibly. Alliant Energy Corporation is traded on the New York Stock Exchange under the symbol LNT and is a component of the S&P 500. For more information, visit alliantenergy.com.
This press release includes forward-looking statements. These forward-looking statements can be identified because they describe future wind generation construction plans and costs and include words such as "proposed," "expected," and "plans." Such statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those currently anticipated. Actual results could be affected by such factors as: state regulatory actions that delay or reject the proposed wind generation construction plans, or that include terms that make the future generation construction plans uneconomical; increased costs of equipment, commodities used in equipment, and real estate; unanticipated construction issues, delays or expenditures; failure of equipment and technology to perform as expected; current or future litigation, regulatory investigations, proceedings or inquiries that could impede the implementation of Alliant Energy's plans; political conditions in Alliant Energy's service territories; changes to Alliant Energy's access to capital markets; and economic conditions in Alliant Energy's service territory. These factors should be considered when evaluating the forward-looking statements and undue reliance should not be placed on such statements. The forward-looking statements included herein are made as of the date hereof and Alliant Energy and Wisconsin Power and Light Company undertake no obligation to update publicly such statements to reflect subsequent events or circumstances.
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