September 21 (Renewables Now) - Iowa utility Interstate Power and Light Company (IPL), part of Alliant Energy Corp (NYSE:LNT), yesterday said it is selling USD 500 million (EUR 425.4m) of senior debentures with a 4.1% coupon.
This is the company’s inaugural public offering of green bonds. It is expected to close on September 26. The proceeds will support the construction and development of wind and solar power plants.
In April it was announced that the Iowa Utilities Board had given the green light to a plan by IPL to add 1,000 MW of new wind power capacity in the state by 2020. The list of planned projects includes the 300-MW Upland Prairie Wind Farm in Clay and Dickinson counties, and the 170-MW English Farms Wind Farm in Poweshiek County.
Sachs & Co LLC, Mitsubishi UFJ Financial Group (MUFG) and Wells Fargo Securities have been appointed joint book-running managers for the debenture offering, while Comerica Securities, KeyBanc Capital Markets, US Bancorp, Mischler Financial Group Inc and Ramirez & Co Inc act as co-managers.