US Energy Department finalizes $5.1 billion Alliant Energy loan package
The US Energy Department has finalized a $5.1 billion loan package for Alliant Energy to fund gas plants, storage and grid upgrades in Iowa and Wisconsin.
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what happened
The US Department of Energy said on Wednesday that it has closed a $5.1 billion loan package for Alliant Energy, according to Reuters. The funds will expand power generation and strengthen the grid at plants in Iowa and Wisconsin.
The financing will support new gas-fired power plants, energy storage systems and upgrades to existing generation facilities. The department said the projects will add more than 2.6 gigawatts of new or upgraded capacity, enough for nearly 1.8 million homes, and create hundreds of construction jobs.
why it matters
The loan was first proposed as a conditional $3 billion commitment by the Biden administration in its final days in January 2025. The office, formerly the Loan Programs Office, now also backs gas projects that can typically borrow from banks. The department says any drop in electricity costs could take years, since the loans run for decades.
market impact
Gas and utilities: longer-term gas demand and support for utility expansion projects
tags
instruments
sources
- US closes $5.1 billion loan to Alliant Energy for new gas power generation, energy storage — Reuters, 28 October 2026 at 01:59 UTC
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