Interstate Power and Light Company (IP&L), a subsidiary of Alliant Energy Corporation, has signed a definitive agreement to sell its ownership interest in three US hydroelectric power plants to North American Hydro (NAH).

The three Iowa facilities are located in Anamosa, Iowa Falls and Maquoketa, and have a generating capacity of 250kW, 540kW and 1200kW respectively.

NAH has agreed to purchase the three hydroelectric plants for approximately US$500,000. In the sale agreement, IP&L will enter into a long-term Power Purchase Agreement (PPA) with NAH to buy energy and capacity from the three facilities.

The transaction is expected to be concluded before the end of 2005, and the PPA will extend through to October 2015.

No federal regulatory approvals are necessary as the facilities are either exempt or not under Federal Regulatory Energy Commission (FERC) jurisdiction.