Utilities Board approves Alliant wind project

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The Iowa Utilities Board has approved advance ratemaking principles for Alliant Energy’s $890 million New Wind II project expected to add 500 megawatts of capacity. The utility will get a return on equity of 11 percent. The project will have a depreciable life of 40 years and a cost cap of $1,780 per kilowatt. Production tax credits will be addressed later so the state can consider the utility’s overall tax position. The project should be online by Dec. 31, 2020.