US closes $5.1 billion loan to Alliant Energy for new gas power generation, energy storage
LNT•The US Department of Energy closed a $5.1 billion loan package to Alliant Energy for power generation and grid investments in Iowa and Wisconsin. The projects are expected to deliver more than 2.6 gigawatts of new or upgraded capacity and create hundreds of construction-related jobs.
1. Loan funds power projects
The US Department of Energy said it closed a $5.1 billion loan package to Alliant Energy to expand power generation and bolster the grid at plants in Iowa and Wisconsin. The investments will support new natural gas-fired power plants, energy storage systems and upgrades to existing generation facilities.
2. Capacity and loan history
The projects are expected to provide more than 2.6 gigawatts of new or upgraded capacity, enough to power nearly 1.8 million homes, and create hundreds of construction-related jobs. The loan was initially proposed in January 2025 as a conditional $3 billion loan. The loan office director said the new power would strengthen energy security and lower electricity costs; the article said any cost reductions could take many years.
