Wisconsin Power and Light Company (WPL), a subsidiary of Alliant Energy Corporation (NYSE: LNT) has executed a letter of intent to purchase a 400 megawatt wind farm site, located in southern Minnesota, from Wind Capital Group, LLC, a St. Louis, Missouri based developer of wind energy assets.
The "Bent Tree Wind Farm" site has the potential to produce up to 400 megawatts of emissions-free energy if completely developed, enough potential capacity to power up to 100,000 homes. WPL currently anticipates the purchase of the site to be complete by October 2008. WPL plans for the first 200 megawatts to be in commercial operation by the end of 2010. A decision regarding the development of the wind farm's additional 200 megawatts has not yet been made.
"We are preparing for our customers' and Wisconsin's energy future," says Barbara Swan, President- WPL. "This potential purchase aligns squarely with Governor Doyle's vision that 20 percent of all the energy serving Wisconsin customers comes from renewable sources by 2025. This is a great start, as we work toward addressing the critical balance of meeting important environmental objectives with the equally important goal of providing reliable and affordable power to our customers."
"The Bent Tree Wind Farm represents a continuation of our work to bring wind energy home to rural communities," said Wind Capital Group President Tom Carnahan. "The residents and officials of Freeborn County truly understand the benefits of developing clean, renewable energy, and we were pleased with the tremendous amount of support we received from them in developing the Bent Tree site. We are proud that an industry leader like Alliant Energy will now oversee the next phase of construction on the project."
The announcement of the letter of intent is the latest example of WPL's commitment to renewable energy choices. Construction is currently underway at the Cedar Ridge Wind Farm, WPL's first fully-owned and operated wind farm. The 68 megawatt wind farm in the townships of Eden and Empire in Fond du Lac County, Wisconsin, is expected to begin commercial operation by the end of 2008. In addition, the proposed expansion of the Nelson Dewey Generating Station, in Cassville, Wisconsin, is being designed with the capability to utilize coal, in addition to renewable resource fuels, such as wood, corn stover, or switchgrass.
About Wind Capital Group
Wind Capital Group builds wind farms with a project strategy that places serious focus on community involvement and developing relationships to guide a project toward success. Their wind energy development team of top experts uses their combined experience and ingenuity to "bring wind energy home." In doing so, Wind Capital provides a welcome boost to hard working rural communities. In partnering with Wind Capital Group, farmers can benefit from a new cash crop and the diversified income provided by wind energy production. The local partnerships help revitalize farm communities by broadening the tax base, strengthening schools, and renewing local identity. For more information about Wind Capital Group, visit www.windcapitalgroup.com.
About Alliant Energy
Alliant Energy is an energy-services provider with subsidiaries serving approximately 1 million electric and 400,000 natural gas customers. Providing its customers in the Midwest with regulated electric and natural gas service is the company's primary focus. Wisconsin Power and Light, the company's Wisconsin utility subsidiary, serves approximately 450,000 electric and 175,000 natural gas customers. Alliant Energy, headquartered in Madison, Wis., is a Fortune 1000 company traded on the New York Stock Exchange under the symbol LNT. For more information, visit the company's Web site at www.alliantenergy.com.
This press release includes forward-looking statements. These forward-looking statements can be identified as such because the statements include words such as "anticipates," "plans," "potential," "expected," "designed," or other words of similar import. Similarly, statements that describe future plans or strategies are also forward-looking statements. 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 which delay, prevent or alter the proposed plans, including inability to obtain all necessary approvals; unsuccessful negotiations for the purchase of the wind farm; 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 WPL's plans; political conditions in WPL's service territories; changes to WPL's access to capital markets; and economic conditions in WPL'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 WPL undertake no obligation to update publicly such statements to reflect subsequent events or circumstances.
Alliant Energy, News Release – 4/22/2008
Media Contact: Rob Crain (608) 458-4469
Investor Relations: Jamie Freeman (608) 458-3274
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