Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Alliant Energy Receives Approval From PSCW To Acquire Riverside Energy Center

RELATED NEWS
Trade LNT now with 

Alliant Energy Corp. (LNT: Quote) said that its subsidiary Wisconsin Power and Light Company or WPL has received approval from the Public Service Commission of Wisconsin or PSCW to purchase the Riverside Energy Center from Riverside Energy Center, LLC, a subsidiary of Calpine Corp.(CPN: Quote) for approximately $392 million.

The Riverside Energy Center is a 600MW combined cycle natural gas-fired electric generating facility located in Beloit, Wisconsin. It began operation in 2004. WPL currently has a purchase power agreement with Riverside for approximately 500MW. Under the purchase power agreement, WPL has the option to purchase Riverside if it exercises the option on or before May 31, 2012.

The company said that WPL is still evaluating the potential purchase and the PSCW order. WPL will make a decision whether to exercise its option to purchase Riverside on or before May 31, 2012. If WPL does exercise its option, closing is expected to occur by December 31, 2012.

Click here to receive FREE breaking news email alerts for Alliant Energy Corp and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Stocks moved sharply lower over the course of the trading day on Wednesday, adding to the modest weakness seen in the two previous sessions. With the losses on the day, the major averages fell to their lowest closing levels in over a month. Democrats have climbed into the lead on a generic ballot, according to the results of a new CNN/ORC International poll, although the results may not be as positive for the party as they first appear. With spending on private and public construction both showing notable decreases, the Commerce Department released a report on Wednesday showing an unexpected drop in U.S. construction spending in the month of August.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.