Cedar Rapids, Iowa [RenewableEnergyAccess.com] Interstate Power and Light Company (IPL), a subsidiary of Alliant Energy Corporation has received a written decision from the Iowa Utilities Board (IUB) regarding its request for ratemaking principles relating to the company’s proposed construction of up to 200 megawatts (MW) of wind farms in Iowa.
In its decision, the IUB approved the terms of an agreement reached between IPL and the Iowa Office of Consumer Advocate in November of 2007 that includes a return on equity of 11.7 percent and a 25-year depreciation life for up to 200 MW of IPL wind development in Iowa.
IPL now expects to begin construction at its Whispering Willow Warm Farm in 2009. The project is expected to be completed in 2010 at a cost of $400-450 million dollars. Upon completion of the IPL wind projects, approximately 6 percent of IPL’s electricity will be generated from renewable energy sources.
“The IUB’s decision is a milestone for our company as we build IPL’s first company-owned wind farm and move to position Iowa as a leader in renewable energy,” said Tom Aller, president of IPL. “Wind energy, along with our other renewable generation resources, is an important component of our diversified energy portfolio. We are committed to expanding Iowa’s renewable economic opportunities that create jobs for Iowans and help make Iowa a leader in renewable energy.”