Alliant reports 84% jump in profits

Alliant Energy Corp. saw its profits rise 84% in the fourth quarter of 2016 as compared to the same quarter in 2015.

The Madison-based utility company reported $62.7 million in net income for the quarter (28 cents/share) compared to $34.1 million (15 cents/share) in 2015. Revenue increased from $740.1 million to $797 million year over year.

Alliant is also in the process of generating more wind power in Iowa as it adds 500 megawatts of power by 2020, enough to power 215,000 homes. Another 400 megawatts of power are also being considered, according to a report in the Wisconsin State Journal.