CEDAR RAPIDS, Iowa, Dec. 20 2007 — Interstate Power and Light Company (IPL), a subsidiary of Alliant Energy Corp., has successfully closed the sale transaction of its transmission assets to ITC Midwest LLC, a subsidiary of ITC Holdings Corp.
With the closing, ITC Midwest purchased IPL’s transmission assets, including approximately 6,800 miles of 34.5-kV-and-above transmission lines, substation facilities and transmission land rights for approximately $783 million. The transaction is subject to various post closing adjustments.
“The sale of our company’s transmission assets is good for our customers, shareowners and our service area” said Tom Aller, IPL’s President. “ITC Midwest is committed to providing the transmission infrastructure necessary to enhance economic development and renewable energy opportunities throughout our service area.”