Counting on the sun for another 400+ megawatts of energy in Wisconsin

Rhea-AI Summary

Alliant Energy has announced plans to add 414 megawatts (MW) of solar energy in Wisconsin, rounding out its initiative to exceed 1,000 MW of solar capacity. This effort aims to help customers save over $2 billion in long-term costs while creating more than 800 local jobs across several counties. The new projects will generate an estimated $50 million in shared revenues for local communities over 30 years. Alliant Energy seeks regulatory approval to advance these six new projects, contributing to its goal of achieving nearly 50% renewable energy in its mix by 2025.

Positive

• Plans to add 414 MW of solar energy, totaling over 1,000 MW.
• Estimated savings of over $2 billion for customers.
• Creation of more than 800 local jobs across five counties.
• Expected $50 million in shared revenues for local communities over 30 years.

Negative

• Awaiting regulatory approval for the Certificate of Authority application.
• Potential delays or cost increases due to regulatory or permit issues.

Alliant Energy announces plans to add six more solar projects in the Badger state.

MADISON, Wis., March 31, 2021 (GLOBE NEWSWIRE) -- Today, Alliant Energy (NASDAQ: LNT) announces plans to add another 414 megawatts (MW) of solar in Wisconsin. This rounds out the company’s previously announced plan to accelerate its transition to clean energy by adding more than 1,000 MW of solar while helping customers avoid more than $2 billion in long-term costs. Upon completion of their more than 1,000 MW of solar, Alliant Energy will own and operate the most solar energy in the state of Wisconsin.

“Guided by our purpose-driven strategy to serve customers and build strong communities, we are accelerating our transition to cleaner energy,” stated David de Leon, President of Alliant Energy's Wisconsin energy company. “This continued transition is a smart investment, benefitting our customers long-term, while also creating hundreds of jobs across the state and providing local communities with shared-revenues.”

The six new projects will be developed in mostly rural parts of Dodge, Grant, Green, Rock and Waushara counties. Once the projects are operational, local communities will receive an estimated $50 million in shared revenues – for the next 30 years – to use in a variety of ways, such as funding local fire departments, investing in school programs and upgrading park facilities. Additionally, local landowners will receive a combined $60 million in lease payments over 30 years.

The additional projects, five of which are being self-developed by Alliant Energy, are expected to create more than 800 local construction jobs across the five counties. They include:

Solar Project Name	County	Size
Albany	Green	50 megawatts
Beaver Dam	Dodge	50 megawatts
Cassville	Grant	50 megawatts
Paddock	Rock	65 megawatts
Springfield (under development by National Grid Renewables)	Dodge	100 megawatts
Wautoma	Waushara	99 megawatts

“This provides tremendous potential for these communities,” said Mike Koles, Executive Director of the Wisconsin Towns Association. “Based on research and dialogue with our members that have partnered with Alliant Energy on previous solar projects, we’ve concluded that Alliant Energy’s development process has been overwhelmingly positive and illustrates model developer behavior that should be mimicked in future solar project planning.”

Today’s announcement comes as Alliant Energy awaits approval on the Certificate of Authority application they filed with the Public Service Commission of Wisconsin (PSCW) in May 2020. In that application, the company announced plans to acquire and advance six solar projects that would add 675 MW of solar energy by the end of 2023. In total, the 12 planned solar projects will power hundreds of thousands of homes across the state.

Along with the large, utility-scale solar projects, Alliant Energy has made several community-based solar announcements in recent months, including projects in Sheboygan, Fond du Lac and Dane County.

Collectively, the company’s transition to solar is outlined in its Clean Energy Blueprint – Alliant Energy’s strategic roadmap to cost-effectively accelerate their use of renewables. It also serves as the company’s guide as they continue to diversify their energy mix to ensure reliability and resiliency – no matter the weather.

Once these 12 projects are fully built out, Alliant Energy estimates that, by 2025, nearly half of their resource mix will be made up of renewable resources (wind, hydro and solar). Combined with upcoming retirements of the Edgewater Generating Station and Columbia Energy Center, Alliant Energy is well-positioned to achieve its goal of reducing carbon dioxide emissions from fossil-fueled generation by 50 percent by 2030 from 2005 levels.

“It’s great for our environment and aligns with our company’s values, which include Make Things Better and Do the Right Thing,” added de Leon.

Alliant Energy will file its Certificate of Authority application with the Public Service Commission of Wisconsin (PSCW) to advance these projects; docket number 6680-CE-183.

For more information about Alliant Energy's Wisconsin Clean Energy Blueprint visit poweringwhatsnext.alliantenergy.com/clean-energy.

Alliant Energy Corporation (NASDAQ: LNT), a public utility holding company, provides regulated energy service to 975,000 electric and 420,000 natural gas customers across Iowa and Wisconsin. Guided by its purpose-driven strategy to serve customers and build strong communities, Alliant Energy concentrates on delivering energy solutions safely, efficiently and responsibly. Interstate Power and Light (IPL) and Wisconsin Power and Light (WPL) are Alliant Energy's public energy companies. Alliant Energy is a component of the NASDAQ CRD Sustainability Index, Bloomberg’s 2021 Gender-Equality Index and the S&P 500. The company’s headquarters are based in Madison, Wis. For more information, visit alliantenergy.com and follow us on LinkedIn, Facebook, Instagram and Twitter.

This press release includes forward-looking statements. These forward-looking statements can be identified because they describe future solar generation plans or projects, future generation plant retirements, future emissions reductions, or include words such as “plans,” “expected,” “will,” “goal,” “estimated,” “approximately,” and words of similar import. Such statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those currently anticipated. Actual results could be affected by such factors as: the inability to obtain regulatory approvals or necessary permits in a timely manner, including completion of the Midcontinent Independent System Operator generation interconnection process; state regulatory actions that delay or reject the proposed solar generation construction plans, or that include terms that make the future generation construction plans uneconomical, including rate recovery levels and returns on equity; adverse interpretation or enforcement of regulatory or permit conditions; ability to obtain necessary equipment and labor in a timely manner; increased costs of equipment, commodities used in equipment, labor and real estate; changes in tax laws that could impact the qualification of the solar projects for the expected level of investment tax credits; unanticipated construction issues, delays or expenditures; failure of equipment and technology to perform as expected; current or future litigation, regulatory investigations, proceedings or inquiries that could impede the implementation of Alliant Energy's plans; the inability to agree to contract terms or disputes in contract terms; poor initial cost estimates; work stoppages; adverse weather conditions; unforeseen engineering or technology issues; limited access to capital or other proposed financing arrangements such as tax equity financing; other adverse economic conditions; adverse impacts resulting from the COVID-19 pandemic and responses to the pandemic; and economic conditions in Alliant Energy's service territory. These factors should be considered when evaluating the forward-looking statements and undue reliance should not be placed on such statements. The forward-looking statements included herein are made as of the date hereof and Alliant Energy and Wisconsin Power and Light Company undertake no obligation to update publicly such statements to reflect subsequent events or circumstances.

Media contact: Cindy Tomlinson (608) 458-3869
Investor Relations contact: Susan Trapp Gille (608) 458-3956

FAQ

What are Alliant Energy's plans for solar projects in Wisconsin?

Alliant Energy plans to add 414 MW of solar energy, contributing to over 1,000 MW total, creating local jobs and community revenue.

How much will Alliant Energy's solar projects save customers?

The solar projects are expected to help customers avoid over $2 billion in long-term costs.

What is the impact of Alliant Energy's solar projects on local communities?

Local communities are expected to receive an estimated $50 million in shared revenues over 30 years from the solar projects.

What is the timeline for Alliant Energy's solar projects?

Alliant Energy is seeking regulatory approval and aims to have these projects operational soon to meet growing energy needs.

How many jobs will Alliant Energy's solar projects create?

The projects are projected to create more than 800 local construction jobs across several counties.