US utility Alliant Energy is planning to invest $1bn in wind projects as part its vision for clean energy future in Iowa.

To expand wind energy operations, the company, through its Iowa unit Interstate Power and Light Company (IPL), is seeking regulatory approval to undertake a five-year expansion of its existing 200MW Whispering Willow wind farm in Franklin County.

The expansion project, which would add up to 500MW of capacity, is expected to maximize the value of tax credits for renewable energy to benefit its customers..

Following the launch of request for proposals for more wind generation, Alliant Energy’s Iowa utility filed an application for advanced ratemaking principles on the Whispering Willow expansion project and other potential locations.

Alliant Energy Iowa utility president Doug Kopp said: “Our customers expect low-cost, clean energy, which is exactly what this project will bring to the communities we serve.

“Wind has no fuel costs and zero emissions, making it a win-win for Iowans and the Iowa economy.”

Alliant also plans to develop wind energy in other areas of the state.

By 2030, the utility plans to reduce 40% of CO2 emissions when compared to that of 2005 level.

Alliant Energy expects the Whispering Willow expansion project to generate tens of millions of dollars in property taxes as well as create over 1,500 jobs during construction phase.