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
An Illinois woman has filed a lawsuit against Starbucks accusing that the coffee retail giant is misleading customers by "underfilling" its cold beverages. According to the plaintiff, Starbucks is cheating customers by serving cold coffees with too much ice cubes and less coffee than advertised, "often... GNC Holdings Inc. (GNC) Monday said it has commenced a strategic review that could lead to potential sale of the company. Shares of GNC Holdings gained over 4 percent after the vitamins and health supplement retailer said it has hired Goldman Sachs and Wachtell, Lipton, Rosen & Katz to advise on... Workers at a giant construction company in Saudi Arabia have set fire to several company buses amid protests at being laid off and not being paid wages for several months. Employees at the Saudi Binladin Group set fire to company buses and staged demonstrations within the Mecca region in recent weeks after the company, one of Saudi Arabia's largest employers, laid off 50,000 foreign employees.
comments powered by Disqus
Follow RTT