Wisconsin Power and Light closes on purchase of Riverside Energy Center
600MW combined cycle natural gas facility located in Beloit, WI
MADISON, Wis., Jan. 2, 2013
MADISON, Wis., Jan. 2, 2013 /PRNewswire/ -- Wisconsin Power and Light Company
(WPL), a subsidiary of Alliant Energy Corporation (NYSE: LNT), has closed on
the purchase of Riverside Energy Center, LLC, which owned the Riverside Energy
Center. Riverside Energy Center, LLC, was owned by Calpine Corporation (NYSE:
CPN) at the time it was purchased by WPL.
"We are very excited to add the Riverside Energy Center into WPL's fleet, and
the employees there into our WPL family," said John Larsen, President – WPL.
"This purchase is the latest step in the execution of our strategy to balance
our generation portfolio in order to manage costs for our customers while
remaining flexible for the future."
"This transaction furthers strategic objectives for Calpine as well as WPL, a
longtime partner and valued customer. For Calpine, divesting the Riverside
plant allows us to redeploy capital in a way that will enhance long-term value
for our shareholders," said Calpine's Chief Executive Officer Jack Fusco. "We
are also gratified that the dedicated employees at Riverside will continue to
maintain the plant's operational excellence working for WPL."
The purchase price was approximately $400 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 and WPL previously purchased approximately 500MW of capacity from the
Wisconsin Power and Light Company (WPL), based in Madison, Wis., provides
electric service to approximately 459,000 customers and natural gas service to
approximately 180,000 customers in more than 600 communities across central
and southern Wisconsin. WPL is committed to providing the energy and
exceptional service its customers and communities expect – safely, reliably,
and affordably. WPL is a subsidiary of Alliant Energy Corporation, for more
information, visit alliantenergy.com or call 1-800-ALLIANT (800-255-4268).
Calpine Corporation generates more electricity than any other independent
power producer in America, with a fleet of 92 power plants in operation or
under construction, representing more than 27,000 megawatts of generation
capacity. Serving customers in 20 states and Canada, we specialize in
developing, constructing, owning and operating natural gas-fired and renewable
geothermal power plants that use advanced technologies to generate power in a
low-carbon and environmentally responsible manner. Our clean, efficient,
modern and flexible fleet is uniquely positioned to benefit from the secular
trends affecting our industry, including the abundant and affordable supply of
clean natural gas, stricter environmental regulation, aging power generation
infrastructure and the increasing need for dispatchable power plants to
successfully integrate intermittent renewables into the grid. We focus on
wholesale competitive power markets and advocate for market-driven solutions
that result in nondiscriminatory forward price signals for investors. Please
visit www.calpine.comto learn more about why Calpine is a generation ahead –
SOURCE Wisconsin Power and Light Company
Contact: Alliant Media Contact: Steve Schultz, +1-608-458-3285, Alliant
Investor Relations Contact: Susan Gille, +1-608-458-3956; Calpine Corporation
Media Contact: Norma Dunn, +1-713-830-8883, Calpine Corporation Investor
Relations Contact: Bryan Kimzey, +1-713-830-8777
Press spacebar to pause and continue. Press esc to stop.