Alliant Energy: Investing in renewables to keep costs low for customers
Media contact: Scott Reigstad (608) 458-3145
Investor Relations contact: Susan Gille (608) 458-3956
New wind project will benefit customers for years through significant fuel cost savings
MADISON, Wis. – May 30, 2018 – Alliant Energy’s Wisconsin energy company has filed plans with the Public Service Commission of Wisconsin (PSCW) to build a wind project that will lower energy costs for Wisconsin customers starting in 2020. The proposed project will be located in north central Iowa, which has consistently strong wind resources.
“We are providing our customers with more renewable energy that will keep rates competitive and help bolster economic development in our communities,” said John Larsen, president of Alliant Energy. “Wind energy continues to play a major role in diversifying our energy mix and transitioning us to a clean energy future.”
Customers will benefit directly from fuel-free renewable energy that provides long-term cost stability. The cost to build new wind projects has decreased significantly over the last several years. This is largely the result of continued technological advancements that improve turbine efficiency.
This project would add 150 megawatts of wind energy, enough to power an additional 70,000 homes. The company’s Wisconsin customers already benefit from low-cost wind through Alliant Energy’s ownership in three wind farms.
Alliant Energy has entered into a contract with Invenergy to purchase the project after development is complete. Invenergy is the largest privately held renewable energy company in North America. A decision from the PSCW is expected in early 2019. If approved, construction is expected to start in summer 2019. This project will not affect the company’s recently announced plans to keep base rates flat through 2020.
Including this project, Alliant Energy plans to invest approximately $2 billion in cost-competitive wind energy across Iowa and Wisconsin by the end of 2020.These significant investments are helping the company achieve its target of reducing carbon dioxide by 40 percent by 2030 from 2005 levels.
- Number of turbines: ~ 60
- Nameplate capacity: 150 megawatts
- Location: Kossuth County, Iowa