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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Alliant Energy Corporation    LNT

ALLIANT ENERGY CORPORATION

(LNT)
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Alliant Energy : Summary ToggleAlliant Energy to retire coal-fired generation facility in Sheboygan

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05/22/2020 | 09:27am EDT

Employees receiving career assistance as company continues transformation toward cleaner energy.

MADISON, Wis. (May 22, 2020) - With an eye toward delivering cleaner, more cost-effective energy, Alliant Energy (NASDAQ: LNT) announces plans to retire the Edgewater Generating Station in Sheboygan by the end of 2022. Closing the coal generation facility and transitioning to renewable energy will help Alliant Energy customers avoid hundreds of millions of dollars in long-term costs.

'For decades, our Edgewater Generating Station has been providing customers and communities safe and reliable energy,' said David de Leon, President of Alliant Energy's Wisconsin energy company. 'As we transition from coal toward a cleaner energy mix, we are caring for our employees, creating new jobs and bringing new economic development opportunities to the communities we serve.'

Taking care of customers, the environment and supporting employees are the company's top priorities. Throughout the transition, Alliant Energy will provide career assistance to employees who are interested. This includes one-on-one coaching, tuition reimbursement, help with resume-writing and interview coaching.

'By announcing now, our employees have the time they need to explore potential career options and enhance their skillset,' said Diane Cooke, Vice President of Human Resources at Alliant Energy. 'Because each employee is unique and at a different place in their career and life, we are meeting with them individually. This allows us to tailor assistance to their specific needs and interests. Caring for the people who so ably power our communities is one of the most important parts of our transition to cleaner energy sources.'

As for the generation facility and site itself, Alliant Energy has engaged Vandewalle & Associates (V&A), a Wisconsin-based urban planning and economic redevelopment firm. V&A has a long-standing history of working on major projects in the Sheboygan region. They also have extensive experience transforming waterfronts, decommissioning and repurposing large industrial sites. While the planning and site redevelopment for this location is expected to be a multi-year process, the company plans to engage the community early and will provide several opportunities for input.

'We have a long history and deep roots in the Sheboygan area and we're going to continue supporting the community, our customers and employees,' concluded de Leon. 'Our shift toward cleaner energy generation is driven by our value to do the right thing. We are focusing on lowering costs, creating environmental benefits, meeting customer demand and being a good partner with the communities we serve.'

Alliant Energy's facility retirement and future solar announcements will be subject to additional state and regional regulatory reviews. The company previously announced an investment of up to 1,000 megawatts of new solar in Wisconsin as a part of its Clean Energy Blueprint for Wisconsin customers.

For more information about Alliant Energy visit alliantenergy.com.

This press release includes forward-looking statements. These forward-looking statements can be identified because they include words such as 'plans,' 'will,' 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: state regulatory actions which delay, prevent or alter the proposed plans, including rate recovery levels, returns on equity; the inability to obtain all necessary approvals, including approval from the Midcontinent Independent System Operator (MISO); current or future litigation, regulatory investigations, proceedings or inquiries that could impede the implementation of Alliant Energy's plans; political conditions in Alliant Energy's service territories; or economic conditions in Alliant Energy's service territories. 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.

Alliant Energy's Wisconsin energy company, based in Madison, Wis., provides service to 480,000 electric and 195,000 natural gas customers. The company's mission is to deliver the energy solutions and exceptional service customers and communities count on - safely, efficiently and responsibly. Alliant Energy (NASDAQ: LNT) is a component of the Nasdaq CRD Sustainability Index, Bloomberg's 2019 Gender-Equality Index, and the S&P 500. For more information, visit alliantenergy.com and follow us on LinkedIn, Facebook, Instagram and Twitter.

Media contact: Cindy Tomlinson (608) 458-3869

Disclaimer

Alliant Energy Corporation published this content on 22 May 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 May 2020 13:26:03 UTC

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Financials (USD)
Sales 2020 3 741 M - -
Net income 2020 587 M - -
Net Debt 2020 6 961 M - -
P/E ratio 2020 20,6x
Yield 2020 3,07%
Capitalization 12 330 M 12 330 M -
EV / Sales 2019
EV / Sales 2020 5,16x
Nbr of Employees 3 597
Free-Float 99,9%
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Number of Analysts 11
Average target price 52,91 $
Last Close Price 49,42 $
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Spread / Lowest Target -13,0%
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John O. Larsen Chairman, President & Chief Executive Officer
Robert J. Durian Chief Financial Officer & Senior Vice President
Singleton B. McAllister Independent Director
Dean C. Oestreich Independent Director
Carol Patricia Sanders Lead Independent Director
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