Wisconsin Electric Power Co. Closes on Sale of Edgewater Unit 5

Mar 01, 2011, 14:20 ET from We Energies

MILWAUKEE, March 1, 2011 /PRNewswire/ -- Wisconsin Electric Power Company, d/b/a We Energies, has closed on the sale of its 25 percent ownership interest in the Edgewater Generating Station Unit 5 to Wisconsin Power and Light Company, a subsidiary of Alliant Energy Corporation. Wisconsin Power and Light now owns 100 percent of Edgewater Generating Station Unit 5, which is located in Sheboygan, Wis.

The closing price was approximately $38 million, which is the net book value of the plant and the related working capital. Wisconsin Power and Light's purchase of full ownership interest in Edgewater Generating Station Unit 5 adds about 95 megawatts to that company's generating portfolio.

Wisconsin Electric Power Company, doing business as We Energies, is a subsidiary of Wisconsin Energy Corporation (NYSE: WEC). The company serves more than 1.1 million electric customers in Wisconsin and Michigan's Upper Peninsula and more than 460,000 natural gas customers in Wisconsin. Visit the We Energies website at www.we-energies.com.

SOURCE We Energies