Alliant Energy Corporation subsidiary, Wisconsin Power and Light Company (WPL) has purchased Riverside Energy Center, LLC which owns Beloit, Wisconsin 600MW combined cycle natural gas-fired electric generating facility Riverside Energy Center, from Calpine Corporation. The facility began operation in 2004.
WPL has a purchase power agreement for about 500MW from Riverside, under which WPL had the option to purchase on or before May 31st, 2012. The company exercised the option, stating that the purchase will allow WPL to reduce reliance on market purchases and better manage their generation fleet.
The approximate USD$392 million purchase was approved by the Public Service Commission of Wisconsin in April and is subject to approval from the Federal Energy Regulatory Commission and under the Hart-Scott-Rodino Act. The purchase is expected to close by December 31st, 2012.