Alliant Energy Corp. - disingenuous environmentalism

Alliant Energy Corp., a utility holding company based in Madison, Wisconsin, “has been quietly nurturing a side business called WindConnect, which offers expertise to help get wind-energy projects built. It is Alliant ’s fastest-growing non-utility business and is their most in-demand of their services.

WindConnect gets involved in measuring wind speeds, designing projects and assessing their environmental impact, along with meeting with land owners, contracting with construction crews and building access roads, said Frank Greb, WindConnect vice president and general manager. “When the business started in 1999, the primary focus was building substations and helping developers connect their wind facilities to the electric grid; therein, the WindConnect name. We have grown way beyond that, ” Greb said.

WindConnect, actually a subsidiary of Alliant’s RMT subsidiary, has been involved in more than 30 wind-power projects around the United States, including projects in New York, California, Washington, New Mexico and Wisconsin - the company claims it has been involved with.

WindConnect earned revenues of $44 million in 2005, $64 million in 2006, and expects to top $150 million this year. Overall, Alliant reported $3.4 billion in total revenue in 2006.

The story isn’t all good. Alliant is currently planning to build a new coal-fired power plant. Ow! Bad news for the environment. I was going to suggest this might be a good company for investing in but this coal power plant just took it off the table. How can they pretend to be for the environment and then build one of the biggest reasons we are in this mess?

This just proves once again that the environment is not a good enough reason for energy companies to pursue any technology. They only respond to market pressures.

The company is publicly traded on the NYSE, stock symbol LNT.