DOE Closes $5.1B Alliant Energy Loan for Iowa, Wisconsin
USA – The U.S. Department of Energy (DOE) closed a $5.1 billion loan package with Alliant Energy on October 28 to finance power generation and grid reliability projects in Iowa and Wisconsin.
The financing supports new natural gas-fired power plants, energy storage systems and upgrades to existing facilities. These investments involve the development and modernisation of generation infrastructure.
DOE expects the projects to provide more than 2.6 GW of new or upgraded capacity, equivalent to electricity for nearly two million homes. The department also projects more than $1 billion in electricity cost savings and hundreds of construction jobs.
The investments are intended to strengthen power system reliability and resilience as electricity demand increases.
Gregory A. Beard, Director of DOE’s Office of Energy Dominance Financing, said: “By bringing new, dependable power online, we are strengthening our nation’s energy security and lowering electricity costs for families and businesses across Iowa and Wisconsin.”
Source: U.S. Department of Energy
