Alliant Energy secures 5.1 billion dollar loan for energy projects

Alliant Energy closed a 5.1 billion dollar federal loan package on October 28 to fund the expansion of natural gas generation and energy storage facilities in Iowa and Wisconsin, Power Engineering reported. The 30-year loans were issued through the United States Department of Energy Office of Energy Dominance Financing. [1]

The utility expects the funded infrastructure investments to save customers up to 1.2 billion dollars, according to Power Engineering. The publication also reported that the construction phase of the projects is anticipated to create more than 1,600 local jobs. The funding will support initiatives designed to increase generation capacity and improve grid reliability across the two states. [1]

Alliant Energy is a public utility holding company headquartered in Madison, Wisconsin. Its two main regulated subsidiaries, Interstate Power and Light Company and Wisconsin Power and Light Company, deliver power and natural gas across Iowa and Wisconsin. Power Engineering reported that the company serves more than 1 million electric customers and 435,000 natural gas customers. [1][3][6]

As FTMQ Climate reported earlier, debt packages for large scale energy storage and generation projects have gained recent momentum, including a 566 million dollar debt package led by the European Bank for Reconstruction and Development for a solar and battery installation in Egypt. [9]