Alliant Energy Announces Sale of RMT's Environmental Business Unit to TRC Companies, Inc.
Divestiture supports RMT's renewable energy focus
MADISON, Wis., June 6, 2011 /PR Newswire/ -- Alliant Energy Corporation (NYSE: LNT) announced that its non-regulated subsidiary, RMT, Inc. (RMT), a leading renewable energy engineering and construction company, has successfully closed the sale of its Environmental Business Unit to TRC Companies, Inc., a national engineering, consulting, and construction management firm.
Selling the Environmental Business Unit to TRC allows RMT to focus solely on providing siting, permitting, engineering, and construction services to the renewable energy infrastructure market, including wind, solar, and geothermal energy. RMT will also continue to target facility siting and engineering work.
'This decision refines RMT's strategic path forward,' said RMT President Steve Johannsen. 'The Environmental Business Unit has been the foundation of the RMT operation for much of our 34-year history. These core competencies have helped to establish a place for RMT in the renewable energy market. However, by maintaining a singular focus on building better, more reliable renewable energy facilities, we believe RMT will be better able to focus the growth of our business, while providing quality service to our clients.'
'TRC has a strong working knowledge of RMT's environmental service lines and has committed to investing in their growth,' Johannsen continued. 'The company has the resources to ensure that our environmental professionals get the personal and professional opportunities they deserve and that RMT's long-term environmental clients continue to receive excellent service. This sale should open up more opportunities for growth on both fronts.'
Over the past decade, RMT has provided construction, engineering, design, and development services for over 3,800 MW of renewable energy across the U.S. In 2011, the company has been selected to design and build ten wind energy projects totaling nearly 1,100 MW and eight utility-scale solar photovoltaic (PV) projects totaling 55 MWdc. These projects bring RMT's total renewable energy portfolio to over 4,900 MW.
Robert W. Baird & Co. acted as exclusive financial advisor to Alliant Energy Corporation and RMT for the transaction
RMT is an industry-leading EPC firm specializing in the design and construction of renewable energy facilities. RMT's experienced construction crew is backed by in-house engineering and site development professionals. This integrated network allows RMT to self-perform siting, permitting, engineering, and construction services on utility-scale wind and solar energy projects. RMT's renewable energy portfolio includes over 4,900 MW. We build clean energy. It's all we do. Visit www.rmtinc.com.
Alliant Energy Corporation is the parent company of two public utility companies - Interstate Power and Light Company and Wisconsin Power and Light Company - and of Alliant Energy Resources, LLC, the parent company of Alliant Energy's non-regulated operations. Alliant Energy is an energy-services provider with subsidiaries serving approximately 1 million electric and 413,000 natural gas customers. Providing its customers in the Midwest with regulated electricity and natural gas service is the Company's primary focus. Alliant Energy, headquartered in Madison, Wis., is a Fortune 1000 company traded on the New York Stock Exchange under the symbol LNT. For more information, visit the Company's Web site athttp://www.alliantenergy.com/index.htm.
This press release includes forward-looking statements. These forward-looking statements can be identified as such because the statements include words such as 'believe' or other words of similar import. Similarly, statements that describe future performance, plans or strategies are forward-looking statements. Such forward looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. Actual results could be materially affected by the following factors, among others; sales and project execution for RMT, Inc.; the level of growth in the wind and solar development market; and the impact of the American Recovery and Reinvestment Act of 2009 and the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010, and future legislation. These factors should be considered when evaluating the forward-looking statements and undue reliance should not be placed on such statements. The forward-looking statements included herein are made as of the date hereof and Alliant Energy undertakes no obligation to update publicly such statements to reflect subsequent events or circumstances.
SOURCE Alliant Energy Corporation