Muscatine Power and Water to Issue $100 Million in Electric Revenue Bonds for Infrastructure Projects
Muscatine Power and Water plans to issue $100 million in electric revenue bonds for projects including a 35 MW combined heat and power unit and a natural gas pipeline. Additional bond sales are expected in fall 2026 and 2028 for a solar farm and other initiatives. Moody's assigns an A1 rating to the bonds, with an anticipated AA insured rating from S&P. MPW aims to transition from coal to natural gas and solar, targeting a reduction in coal's share of total capacity from 95.5% to 61%.
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Muscatine Power and Water (MPW) is set to issue $100 million in electric revenue bonds, with Piper Sandler pricing the Series 2026A and B bonds. These will fund a 35 MW combined heat and power unit and a natural gas pipeline, as well as other projects like the Solar 1 initiative.
MPW plans additional bond sales of $80 million in 2026 and $20 million in 2028. Moody's has rated the bonds A1, while S&P is expected to assign an AA rating post-insurance by Assured Guaranty. MPW is transitioning energy production from coal to renewable sources, aiming to decrease coal dependency significantly. A 5.1% rate increase is approved for July 2026.
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