Alliant Energy to receive $5.1B in federal loans for natural gas, energy storage projects
Alliant Energy will receive $5.1 billion in federal loans to expand natural gas generation, energy storage and liquefied natural gas storage in Wisconsin and Iowa. Federal officials say the investment will improve grid reliability as electricity demand rises, while environmental groups oppose its fossil fuel emphasis and its connection to growing data center demand.
The U.S. Department of Energy announced a $5.1 billion low-interest loan package for Alliant Energy at the utility’s natural gas plant in Beloit, Wisconsin. The financing is expected to support 1.6 gigawatts of new natural gas generation, upgrades to existing facilities, 1 gigawatt of energy storage and additional liquefied natural gas storage, though Alliant has not identified specific projects.
Federal officials and Alliant CEO Lisa Barton said the investment will strengthen grid reliability, lower customer costs and support construction jobs. Wisconsin’s peak electricity demand is projected to rise 40% by 2032, in part because of data centers, including Meta’s facility under construction in Beaver Dam. Sierra Club Wisconsin campaign coordinator Jadine Sonoda criticized the loan package as an investment in fossil fuels that could increase pollution, while supporting its energy-storage component.