Interstate Power and Light Co. (IPL), a subsidiary of Alliant Energy Corp., has received a written decision from the Iowa Utilities Board (IUB) regarding its request for ratemaking principles pertaining to the company's proposed construction of up to 200 MW of wind energy generation capacity in Iowa.
In its decision, the IUB approved the terms of a settlement agreement reached between IPL and the Iowa Office of Consumer Advocate on Nov. 15, 2007, which includes a return on equity of 11.7% and a 25-year depreciation life for up to 200 MW of IPL wind development in the state.
IPL expects to begin construction on a 200 MW wind power project at the Whispering Willow Warm Farm, located in Franklin County, in 2009. The project is expected to be completed in 2010 at a cost of $400 million to $450 million dollars.
‘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,’ says Tom Aller, president of IPL.