logo
Share SHARE
FONT-SIZE Plus   Neg

Alliant Energy Receives Approval From PSCW To Acquire Riverside Energy Center

Alliant Energy Corp. (LNT) 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) 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Apple Inc. (AAPL) has scheduled its annual hardware event on Wednesday, September 7, when the tech giant is expected to unveil the most-awaited smartphone of the year-- iPhone 7. Apple has sent out invitation to the media and published the event on its website with a simple title "See you on the 7th." Although,... Starbucks Corp. (SBUX) has opened its first outlet on the island of Trinidad, as the coffee giant continues its Caribbean expansion. The new store is now open in San Fernando, Trinidad's SouthPark Entertainment Complex. Starbucks opened its first store in the Caribbean region in San Juan, Puerto... Conroe, Texas-based Country Fresh LLC., is recalling 30,000 cases of various fresh-cut vegetable products, due to a potential contamination of Listeria. The contamination was discovered during a routine sample taken at a retail store by the Georgia Department of Agriculture, which revealed the finished...
comments powered by Disqus
Follow RTT