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
The air travel industry has always struggled to earn a good reputation for customer service, but frankly, there are several issues related to customer satisfaction that are beyond the control of airlines. Security issues and airlines' dependence on the volatile fuel market are challenging issues that... Changyou.com Ltd. (CYOU) Monday reported first quarter net income attributable to Changyou.com of $30 million, down from $32 million in the prior year. Adjusted net income was $35 million. The online games developer noted that its first quarter was impacted by currency fluctuations. On average, five... Dutch consumer electronics giant Philips Electronics NV reported Monday significantly higher earnings in its first quarter as sales were boosted by higher volume. Looking ahead, the company said its outlook for 2017 remains unchanged as it expects further operational improvements and comparable sales growth in the year to be back-end loaded.
comments powered by Disqus
Follow RTT