Department of Energy Grants Alliant Energy $5.1 Billion Loan

The U.S. Department of Energy finalized a $5.1 billion loan package for Alliant Energy to expand power generation and strengthen grid reliability across Iowa and Wisconsin. Funded through the Energy Dominance Financing Program, the investment will add over 2.6 gigawatts of capacity, including 1.6 gigawatts of new natural gas expansion and 240 megawatts of upgrades to existing facilities. The plan includes the construction of a liquefied natural gas storage facility in the Town of Rock starting in 2027.

Energy Secretary Chris Wright announced the funding during a visit to a gas-fired power plant in the Town of Beloit. Wright stated the initiative delivers on President Donald Trump's promise to lower electricity costs and unleash American energy potential, estimating that the projects will save families and businesses between $1 billion and $1.2 billion over a 30-year term. This marks the tenth financial close under the Energy Dominance Financing Program.

While Wright framed the investment as a shift toward domestic energy independence and a departure from previous clean-energy policies, the Democratic Party of Wisconsin disputed this narrative. The party asserted that the funds were actually made available through the Biden administration's Inflation Reduction Act.