CEDAR RAPIDS, Iowa, April 30 /PRNewswire-FirstCall/ -- Interstate Power
and Light Company, a wholly owned subsidiary of Alliant Energy, announced
today it will build the first generation facility in the company's Power Iowa
program. The selection of the utility to build the 500 MW natural gas fired
facility was reached after exhaustively reviewing bids submitted by other
(Photo: http://www.newscom.com/cgi-bin/prnh/20020405/LNTLOGO )
"After a thorough examination of the bids, it became apparent that we
offered our customers the best value for building a new power plant in Iowa,"
said Eliot Protsch, President, Interstate Power and Light Company. "We are
excited at the opportunity to be building a new facility that will create
hundreds of jobs, bring in new tax revenues and help meet Iowa's escalating
energy demand for years to come."
While no site has been finalized, the Cerro Gordo and Buchanan County
areas are the leading sites due to their proximity to both transmission lines
and gas pipelines.
"We are working with officials and landowners in these areas to determine
if they would be willing to host the new facility that will bring millions of
dollars to the local economy," said Protsch. "Having the support of the host
community will play a vital role in making a final site determination."
When completed, the 500 MW natural gas fired facility will produce enough
electricity for nearly 150,000 homes in Iowa. The combined cycle plant is
under an aggressive construction schedule to come online in 2004 when Iowa is
expected to fall short on its energy supplies.
"The final step in building the new plant is securing the capital
necessary to construct the nearly $400 million facility," added Protsch. "We
are confident regulators will approve the necessary principles to finance
construction of this facility."
The second phase of Power Iowa is adding at least 150,000 Mwh of renewable
energy to the company's generation portfolio. A bid for this project will be
awarded to a developer in the next few weeks. The third phase of the program
will begin later this year with a Request For Proposal (RFP) for a new clean
"Burlington, Clinton, Marshalltown and Ottumwa have all expressed an
interest in hosting a new clean coal site in their community," added Protsch.
"This facility will bring even more jobs and tax revenues to Iowa and to the
local economy of the community that hosts it."
Power Iowa is Interstate Power and Light Company's comprehensive energy
plan to ensure a reliable energy supply for its Iowa customers. The
$1 billion investment plan focuses on a portfolio approach to meeting Iowa's
energy needs by utilizing natural gas, coal, and renewable energy sources, as
well as improving energy efficiency practices and upgrading the state's
transmission network. Interstate Power and Light Company is a wholly owned
subsidiary of Alliant Energy.
Alliant Energy Corporation (NYSE: LNT) ( http://www.alliantenergy.com ),
headquartered in Madison, Wis., is a growing energy-services provider with
operations both domestically and internationally. Alliant Energy, through its
subsidiaries and partners, provides electric, natural gas, water and steam
services to over three million customers worldwide.
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SOURCE Interstate Power and Light Company