The U.S. Department of Energy’s Office of Energy Dominance Financing on Oct. 28 announced the financial close of a $5.1 billion loan package to Alliant Energy.
The investments will add more than 2.6 gigawatts of new or upgraded power generation capacity and deliver more than $1 billion in electricity cost savings for American families and businesses across both states, DOE said.
The projects will strengthen grid reliability in Iowa and Wisconsin, it said.
"The investments will support new natural gas-fired power plants, energy storage systems, and upgrades to existing generation facilities, create hundreds of construction-related jobs, and deliver affordable, reliable energy for American families and businesses," DOE said.
This loan marks the Trump Administration’s tenth financial close, and the sixth and seventh utility financing completed through the Energy Dominance Financing Program.
Alliant Energy is an investor-owned utility.
