DOE Closes $5.1B Alliant Energy Loan

The U.S. Department of Energy finalized roughly $5.1 billion in loan guarantees for Alliant Energy subsidiaries to expand and upgrade power generation and the electric grid in Iowa and Wisconsin. The financing supports new natural gas-fired plants, energy storage, and improvements to existing facilities, adding or upgrading more than 2.6 gigawatts of capacity—enough to serve about 1.8 million homes—and creating hundreds of construction jobs. Alliant estimates customers could save as much as $1.2 billion over the loans’ lifetime, though the DOE says any electricity-price reductions may take years to materialize. The package expands on a conditional $3 billion proposal made in January 2025, and reflects the Energy Department financing office’s broadened focus, which now includes natural gas alongside storage and other energy infrastructure. The subsidiaries’ agreements allow financing for a range of eligible projects and set final loan maturities in 2056.