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Alliant Energy adjusting timing of its Wisconsin-based generation retirement dates to bolster reliability during transition to cleaner energy future

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Alliant Energy Corporation
Alliant Energy Corporation

Adjusted timing allows the company flexibility beyond 2022 to manage regional capacity and supply chain challenges as they move forward with adding solar and other resources to diversify energy mix

MADISON, Wis., June 23, 2022 (GLOBE NEWSWIRE) -- Guided by its purpose-driven strategy and values, Alliant Energy is transitioning its energy mix to cleaner, more renewable energy to benefit customers. This includes breaking ground on six new solar projects. In total, the company is moving forward on 12 solar projects that will bring nearly 1,100 megawatts of solar generation online in Wisconsin. It’s all part of Alliant Energy’s continued drive to diversify its energy mix of generation resources to meet the ongoing energy needs of customers.

“It’s exciting to be starting construction on new solar projects that will bring jobs and economic benefits to local communities,” said David de Leon, president of Alliant Energy's Wisconsin energy company. “At the same time, it’s important to recognize the unprecedented and unexpected circumstances currently affecting the entire energy industry.”

The uncertainty de Leon mentions includes global supply chain and economic challenges along with shifting Midcontinent Independent System Operator (MISO) requirements beyond 2022 and regional short-term reliability concerns. Earlier this month, MISO released a study forecasting the MISO region, which includes Manitoba, Canada and parts of 15 states including Wisconsin, could be facing a potential energy shortage for the summer of 2023.

“Shifting the retirement dates for our coal-fired facilities in Wisconsin helps ensure we can weather multiple uncertainties while continuing to add cleaner, renewable energy to the grid,” added de Leon.

Alliant Energy expects to be out of coal generation in Wisconsin by mid-2026. The company also confirms they are still on track to achieve their 2030 goal of reducing fossil fuel generation carbon dioxide (CO2) emissions by 50% (from 2005 levels).

Alliant Energy now intends to retire Edgewater Generating Station in Sheboygan by June 2025; both remaining Columbia Energy Center units in Portage will be retired by June 2026. The short-term extension demonstrates the company’s ongoing commitment to providing reliable energy for all customers as outlined in their Clean Energy Blueprint.

The Blueprint is the result of extensive and holistic resource planning that Alliant Energy initiated several years ago. The company continues to view its Blueprint as an economic catalyst that is creating jobs and building stronger communities while also creating a healthier environment.

Alliant Energy co-owns the Columbia facility with Wisconsin Public Service Corporation, a subsidiary of WEC Energy Group, and Madison Gas and Electric Company.

Final timing and retirement dates are subject to additional state and regional regulatory reviews.

To learn more about the company’s transition to renewables, visit AlliantEnergy.com/PoweringWhatsNext.

Media contact: Cindy Tomlinson (608) 458-3869 | cindytomlinson@alliantenergy.com

Alliant Energy Corporation (NASDAQ: LNT) provides regulated energy service to 985,000 electric and 425,000 natural gas customers across Iowa and Wisconsin. Alliant Energy's mission is to deliver energy solutions and exceptional service customers and communities count on – safely, efficiently and responsibly. Interstate Power and Light Company and Wisconsin Power and Light Company are Alliant Energy's two public energy companies. Alliant Energy is a component of the Nasdaq CRD Sustainability Index, Bloomberg’s 2022 Gender-Equality Index, and the S&P 500. For more information, visit alliantenergy.com and follow us on LinkedInFacebookInstagram and Twitter.

This press release includes forward-looking statements. These forward-looking statements can be identified because they describe future generation plans or projects, future generation plant retirements, future emissions reductions, or include words such as “will,” “forecasting,” “expects,” “goal,” “intends,” 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 ability to complete construction of renewable generation projects by planned in-service dates and within the cost targets set by regulators due to cost increases of and access to materials, equipment and commodities including due to tariffs, duties or other assessments, such as any additional tariffs resulting from U.S. Department of Commerce investigations into the sourcing of solar project materials and equipment from certain countries, labor issues or supply shortages, the ability to successfully resolve warranty issues or contract disputes, the ability to achieve the expected level of tax benefits based on tax guidelines and project costs, and the ability to efficiently utilize the renewable generation project tax benefits for the benefit of customers; the inability to obtain regulatory approvals or necessary permits in a timely manner, including approval from the Midcontinent Independent System Operator; state regulatory actions that delay or reject the plans; adverse interpretation or enforcement of regulatory or permit conditions; 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; political conditions in Alliant Energy's service territories; 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.