Lower-interest loans from the U.S. Department of Energy to help Alliant Energy more cost-effectively advance grid resiliency and reliability by constructing new natural gas and battery energy storage across Iowa and Wisconsin.

MADISON, Wis. -- (Business Wire)

Today, Alliant Energy (NASDAQ: LNT) closed on a $5.1 billion lower-interest loan package from the U.S. Department of Energy’s (DOE) Office of Energy Dominance Financing (EDF). Over the life of the 30-year loans, Alliant Energy projects up to $1.2 billion in cumulative customer savings. In addition to lowering costs for customers, the company projects more than 1,600 local jobs willbe created during construction of the projects supported by the loans.

“As energy needs continue to grow across the communities we serve, we are making smart, forward-looking investments to deliver safe, reliable and cost-effective energy for our customers,” said Lisa Barton, president and CEO of Alliant Energy. “This federally backed financing helps lower the cost of building the generation and critical energy infrastructure our customers depend on, while strengthening the grid and supporting long-term savings. We are focused on meeting growth responsibly, maintaining affordability and creating lasting value for customers and communities across Iowa and Wisconsin.”

Alliant Energy plans to use the funding to lower costs for constructing and upgrading resources under the company’s all-of-the-above approach to generation, ensuring reliable and affordable energy to meet growing demand. All proposed projects will be advanced through a transparent regulatory process and represent critical investments in the energy infrastructure needed to serve customers for decades to come.

The federal financing commitment provides Alliant Energy access to up to $5.1 billion of lower-cost capital, subject to project advancement, qualification and financing terms. The overall impact: creation of a stronger, safer and more resilient grid.

With access to EDF financing, Alliant Energy may pursue, but is not limited to include the following projects:

• 1.6 GW of new natural gas generation
• 240 MW increased capacity at existing natural gas facilities
• 1 GW of energy storage
• 2 BCF of Liquified Natural Gas storage

The pursuit of the EDF financing is consistent with Alliant Energy’s longstanding approach to evaluating and pursuing opportunities offered by federal and state agencies to lower costs for customers. Furthermore, it demonstrates the company’s focus on securing cost-effective funding that supports critical investments, strengthens system reliability and delivers value to customers.

In a statement released this morning,U.S. Secretary of Energy Chris Wright stated, “These investments will drive down energy costs for families and businesses in Iowa and Wisconsin, strengthen our nation’s electric grid, and fuel American prosperity for decades to come.”

For more information, visit Alliant Energy - Alliant Energy News Center.

Alliant Energy Corporation (NASDAQ: LNT) is a regulated, investor-owned energy company serving more than 1 million electric and 435,000 natural gas customers across Iowa and Wisconsin. Alliant Energy's mission is to deliver energy solutions and exceptional service to customers and communities – safely, efficiently and responsibly. Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL) are Alliant Energy's wholly owned subsidiaries. For more information, visit alliantenergy.com and follow Alliant Energy on LinkedIn, Facebook, Instagram and X.

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Contacts:

Media Contact: Cindy Tomlinson, 608.458.3869 | cindytomlinson@alliantenergy.com

Source: Alliant Energy Corporation