(Des Moines)– Interstate Power and Light has completed the sale of some of its transmission lines and facilities to ITC Midwest for 783 million dollars.
Officials say the transaction involves about 6,800 miles of transmission lines and facilities in Iowa, Minnesota and Illinois.
IP&L has said it anticipates proceeds from the sale will help fund a coal-fired power plant in Marshalltown and additional wind power resources in Iowa.
ITC Midwest is a newly formed subsidiary of ITC Holdings.
(Story from the Associated Press.).
