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Wisconsin regulators gave Alliant Energy approval Thursday to build a 150-megawatt wind farm in northern Iowa that the utility says will help meet its renewable energy goals while saving customers money.

With a cost of about $255 million, the Kossuth Wind Project is expected to save ratepayers about $81 million over its 30-year lifespan, which the company said should help “stabilize” electric bills.

Madison-based Alliant estimates the Kossuth wind farm will produce about 616,000 megawatt-hours of electricity each year, enough to power about 70,000 average Wisconsin households. The project is designed to allow for a 100-megawatt expansion.

“Our customers look to us for sustainable energy solutions,” Alliant President John Larsen said in a written statement. “Investing in state-of-the-art wind generation continues our path to lower carbon emissions and furthers our commitment to provide reliable and affordable energy to our customers and communities.”

As a regulated utility, Alliant will be guaranteed a profit on the investment, the cost of which will be passed on to its Wisconsin customers.

But because wind energy has no fuel costs and the project will benefit from roughly $14 million a year in federal tax credits, Alliant estimates it will keep rates lower.