DOE to Loan up to $5.1 Billion to Alliant Energy for Iowa and Wisconsin Energy Projects
The financing will support new gas-fired plants, energy storage and upgrades that add more than 2.6 gigawatts of capacity, the department said.
- On Wednesday, the U.S. Department of Energy closed a $5.1 billion loan package for Alliant Energy to expand power generation and strengthen grid reliability in Iowa and Wisconsin.
- President Donald Trump's April 2025 executive order directed the Energy Department to safeguard the electric grid; Energy Secretary Chris Wright said the loans help "unleash the full potential of American energy."
- The 30-year deal will create "more than 1,600 local jobs" and deliver "up to $1.2 billion in cumulative customer savings," while financing 1.6 gigawatts of new natural gas generation and 1 gigawatt of energy storage.
- Critics including Tom Opdyke of the R Street Institute argue the timing in competitive states suggests a political ploy, with Opdyke saying, "So it might be too little, too late" for midterm elections.
- Alliant has until May 15, 2056, to repay the loan, with principal payments beginning in 2052; the Department of Energy also agreed to loan up to $1.9 billion to NextEra Energy for the Duane Arnold Energy Center.
12 Articles
12 Articles
Trump hands a booming utility in Iowa and Wisconsin $5.1 billion in loans less than a week before the election
It’s the 10th energy project financed by the Trump administration’s Office of Energy Dominance Financing, which has over $289 billion in loan authority.
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DOE to loan up to $5.1 billion to Alliant Energy for Iowa and Wisconsin energy projects
Alliant Energy Corporation has closed a $5.1 billion loan package with the U.S. Department of Energy to fund power generation and energy storage projects in Wisconsin and Iowa. A news release from the DOE said the loan would help to…
Energy Department Closes $5.1 Billion Loan to Lower Electricity Costs and Strengthen Grid Reliability in Iowa and Wisconsin
The U.S. Department of Energy’s (DOE) Office of Energy Dominance Financing (EDF) today announced the financial close of a $5.1 billion loan package to Alliant Energy to lower electricity costs, expand firm power generation, and strengthen grid reliability in Iowa and Wisconsin. The investments will add more than 2.6 gigawatts (GW) of new or upgraded […]
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