The U.S. Department of Energy closed a $5.1 billion loan package to Alliant Energy on October 28, 2026, financing new and upgraded power generation in Iowa and Wisconsin. The department's Office of Energy Dominance Financing (EDF) announced the financial close.
The investments will add more than 2.6 gigawatts (GW) of new or upgraded generation capacity, according to DOE. The department also says they will deliver more than $1 billion in electricity cost savings for households and businesses across the two states.
What the loans will build
DOE says the money supports new natural gas-fired power plants and energy storage systems, along with upgrades to existing generation facilities. The department describes the added output as enough to power the equivalent of nearly 2 million homes. It also expects the work to create hundreds of construction-related jobs.
DOE ties the announcement to President Trump's Executive Order Strengthening the Reliability and Security of the United States Electric Grid. The department says the order is about making sure the country has dependable power to meet growing electricity demand.
Statements from DOE
Energy Secretary Chris Wright said the department is delivering on the president's promise to lower electricity costs. He said the investments will push down energy costs for families and businesses in Iowa and Wisconsin and strengthen the grid.
EDF Director Gregory A. Beard said the office is putting capital to work to expand reliable energy infrastructure. He said bringing new, dependable power online will strengthen energy security and lower costs for families and businesses in both states.
Where it sits in the program
DOE counts the Alliant loan as the Trump Administration's tenth financial close. It is the sixth and seventh utility financing completed through the Energy Dominance Financing Program. EDF says it finances American energy and manufacturing projects that contribute to energy security, grid reliability and lower costs.
The announcement is a federal policy action on utility financing, and the figures above come from DOE's own release.
