WASHINGTON (dpa-AFX) - Alliant Energy Corp. (LNT) announced that it has entered into a definitive agreement to sell RMT, Inc., its renewable energy services subsidiary, to Infrastructure and Energy Alternatives, LLC or IEA.
'We announced our intent earlier this year to sell the RMT business because our belief was that RMT would be best served by an owner whose operations were better aligned with RMT's engineering and construction business,' said Patricia Kampling, Alliant Energy Chairman, President and CEO.
RMT will become a subsidiary of IEA working in their renewable energy group along with existing IEA subsidiary White Construction, Inc. RMT's headquarters will remain in Madison, Wis, Alliant stated.
The company said the acquisition is expected to close in January 2013.
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