Wisconsin Electric Power Co. Closes on Sale of Edgewater Unit 5

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^{Published in Business and Finance on Tuesday, March 1st 2011 at 11:25 GMT by Market Wire}  

Wisconsin Electric Power Co. Closes on Sale of Edgewater Unit 5 -- MILWAUKEE, March 1, 2011 /PRNewswire/ --

MILWAUKEE, March 1, 2011 /PRNewswire/ -- Wisconsin Electric Power Company, d/b/a We Energies, has closed on the sale of its 25 percent ownership interest in the Edgewater Generating Station Unit 5 to Wisconsin Power and Light Company, a subsidiary of Alliant Energy Corporation. Wisconsin Power and Light now owns 100 percent of Edgewater Generating Station Unit 5, which is located in Sheboygan, Wis.

The closing price was approximately $38 million, which is the net book value of the plant and the related working capital. Wisconsin Power and Light's purchase of full ownership interest in Edgewater Generating Station Unit 5 adds about 95 megawatts to that company's generating portfolio.

Wisconsin Electric Power Company, doing business as We Energies, is a subsidiary of Wisconsin Energy Corporation (NYSE: WEC). The company serves more than 1.1 million electric customers in Wisconsin and Michigan's Upper Peninsula and more than 460,000 natural gas customers in Wisconsin. Visit the We Energies website at [ www.we-energies.com ].

SOURCE We Energies

RELATED LINKS
[ http://www.we-energies.com ]