ITC Holdings to Acquire Transmission Assets of Alliant Energy

Novi, Michigan [] ITC Holdings Corp. announced that its newly formed subsidiary, ITC Midwest LLC, has signed an agreement to acquire the transmission assets of Interstate Power and Light Company (IP&L), an Alliant Energy Corporation subsidiary, in a transaction valued at approximately $750 million. IP&L’s transmission assets currently consist of approximately 6,800 miles of transmission lines. “End-use consumers will be the true beneficiaries of this acquisition,” said Joseph L. Welch, president and CEO of ITC Holdings, “as we remain steadfast in our commitment to enhance electric reliability and further enable the development and growth of renewable energy resources.”
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