Turbines to provide 500 megawatts of total installed capacity for company’s wind projects
CEDAR RAPIDS, Iowa, June 2 /PRNewswire-FirstCall/ — Alliant Energy Corporate Services, Inc., a wholly-owned subsidiary of Alliant Energy Corporation (NYSE:LNT) entered into a master supply agreement (MSA) with Vestas-American Wind Technology, Inc. (Vestas) effective June 1, 2008. The agreement provides Alliant Energy’s wholly owned utility subsidiaries, Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), with a total of 303 units of Vestas’ V82 – 1.65 megawatt wind turbines to support Alliant Energy’s utility-owned wind generation plan.
The turbines will have a total installed capacity of 500 megawatts and will be delivered in three groups. Under the terms of the MSA, Vestas will begin delivery of the initial group of turbines in 2009, with delivery for the final two groups of turbines beginning in 2010. The total purchase price for the wind turbine equipment under the agreement is expected to be approximately $817 million, subject to adjustments. The company expects the wind turbine equipment to meet the utilities-owned wind generation plan, including IPL’s Whispering Willow Wind Farm – East project, which is a 200 megawatt site located in Franklin County, Iowa, and also support a portion of other anticipated utility-owned wind generation projects.
“Our company is pleased to partner with Vestas, who is a recognized leader in the wind generation industry,” said Kim Zuhlke, Alliant Energy Vice President – New Energy Resources. “Vestas will play an important role in our company’s next step in expanding its renewable energy supply portfolio. Given our company’s aggressive wind generation expansion plans, we believe it is important that we procure the infrastructure necessary to complete the generation build-out on-time and at a reasonable cost to customers.”
“We are extremely proud to supply the wind turbines to Alliant Energy’s projects and to continue our long-standing working relationship with Alliant Energy,” says Jens Soby, President of Vestas Americas A/S. “A total of 500 megawatts of wind generating capacity will make a significant contribution to the company’s power supply in the states where the turbines will be installed. As such, this order is further proof that wind is poised to become a major player in the national energy mix. What we have seen so far in the USA is just the beginning. With a stable federal political framework in place that will allow for planning in the medium and long term, the industry can start to fully utilize the abundant wind resources in this country.”
“We are committed to providing our customers with balanced energy solutions that are environmentally responsible, reliable and cost effective,” adds Zuhlke. “Combined with our investments in hybrid baseload generation and energy conservation, we believe expansion in renewable energy resources is the right choice for our customers, environment and economy.”
This press release includes forward-looking statements. These forward-looking statements can be identified as such because the statements include words such as “expected,” “plans,” “believe” or other words of similar import. Similarly, statements that describe future plans or strategies are also forward-looking statements. Such statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those currently anticipated. Actual results could be affected by such factors as: foreign currency exchange rate fluctuations; commodity price fluctuations; state or federal regulatory actions or local government actions, including rate recovery levels, returns on equity and the inability to obtain all necessary approvals and permits; unanticipated construction issues, delays or expenditures; failure of equipment and technology to perform as expected; current or future litigation, regulatory investigations, proceedings or inquiries that could impede the implementation of Alliant Energy’s plans; political conditions in Alliant Energy’s service territories; and economic conditions in Alliant Energy’s service territories. These factors should be considered when evaluating the forward-looking statements and undue reliance should not be placed on such statements. The forward-looking statements included herein are made as of the date hereof and Alliant Energy undertakes no obligation to update publicly such statements to reflect subsequent events or circumstances.
About Alliant Energy
Alliant Energy is an energy-services provider with subsidiaries serving approximately 1 million electric and over 400,000 natural gas customers. Providing its customers in the Midwest with regulated electric and natural gas service is the company’s primary focus. Alliant Energy, headquartered in Madison, Wis., is a Fortune 1000 company traded on the New York Stock Exchange under the symbol LNT. For more information, visit the company’s Web site at http://www.alliantenergy.com/.
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