Town power plant now in new hands
TOWN OF BELOIT Wisconsin Power and Light is the new owner of the Riverside Energy Center, a natural gas-fired electric generating plant in the town of Beloit.
WPL, a subsidiary of Alliant Energy Corp., bought the 600-megawatt plant from Calpine Corp. for about $400 million, according to an Alliant news release.
The plant's 17 existing employees are now WPL employees.
"We are very excited to add the Riverside Energy Center into WPL's fleet, and the employees there into our WPL family," said WPL President John Larsen. "This purchase is the latest step in the execution of our strategy to balance our generation portfolio in order to manage costs for our customers while remaining flexible for the future."
The Riverside Energy Center began operation in 2004. Before the sale, WPL bought about 83 percent of its output.
It sits just to the west of the Rock Giver Generating Station, which Alliant owns but no longer uses for power generation.