If approved by regulators, construction of the $700 million combined cycle plant would begin by the end of 2014 and commercial production would begin in the second quarter of 2017, Alliant said in a press release.
In addition, the utility announced plans to upgrade coal-fired power plants in Ottumwa and Lansing. The company also said it plans to extend its contract to purchase 431 MW of nuclear power from the Duane Arnold Energy Center from 2014 to 2025.
"Our energy resources strategy is a blueprint for how our company plans to provide future generations of customers in Iowa and Minnesota with safe and reliable energy," said Tom Aller, president of Interstate Power & Light, a subsidiary of Alliant. "Our plan calls for investing more than one billion dollars in IPL electric generation over the next five years. These investments will provide flexibility for the next decade and beyond to meet current and anticipated generating needs."
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