Wednesday, August 1, 2012

Agreement signed to purchase Montfort Wind Energy Center

We recently signed an agreement with NextEra Energy Resources to buy the Montfort Wind Energy Center -- an existing 30-megawatt wind farm located in Iowa County, Wis. The purchase price is $27 million.

We currently have a power purchase agreement for 85 percent of the energy from the site. The remaining 15 percent is under a power purchase agreement with Wisconsin Power and Light Co., a subsidiary of Alliant Energy. 

In announcing the agreement, Chairman, President and Chief Executive Gale Klappa said, “We believe this acquisition will deliver positive economic benefits for our customers and our shareholders.” 
The acquisition is subject to approval of the Federal Energy Regulatory Commission and Public Service Commission of Wisconsin. The deal is expected to close by the end of 2012. We will retain NextEra to operate the site under an operations and maintenance agreement.

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