Energy Department Closes $5.1 Billion Loan to Lower Electricity Costs and Strengthen Grid Reliability in Iowa and Wisconsin

WASHINGTON-The U.S. Department of Energy's (DOE) Office of Energy Dominance Financing (EDF) today announced the financial close of a $5.1 billion loan package to Alliant Energy to lower electricity costs, expand firm power generation, and strengthen grid reliability in Iowa and Wisconsin. The investments will add more than 2.6 gigawatts (GW) of new or upgraded power generation capacity and deliver more than $1 billion in electricity cost savings for American families and businesses across both states.

Today's announcement advances President Trump's Executive Order Strengthening the Reliability and Security of the United States Electric Grid by ensuring our nation has the dependable power needed to meet growing electricity demand and strengthen American energy security.

"The Energy Department is delivering on President Trump's promise to lower electricity costs and unleash the full potential of American energy," said U.S. Secretary of Energy Chris Wright. "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."

The projects will add enough electricity to power the equivalent of nearly 2 million homes-lowering costs and strengthening grid reliability in Iowa and Wisconsin. The investments will support new natural gas-fired power plants, energy storage systems, and upgrades to existing generation facilities, create hundreds of construction-related jobs, and deliver affordable, reliable energy for American families and businesses.

"Thanks to President Trump and Secretary Wright's leadership, EDF is putting capital to work to expand America's reliable energy infrastructure," said EDF Director Gregory A. Beard. "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."

This loan marks the Trump Administration's tenth financial close, and the sixth and seventh utility financing completed through the Energy Dominance Financing Program.

Under President Trump's leadership, EDF is financing American energy and manufacturing projects that meaningfully contribute to U.S. energy security, grid reliability, and lowering costs for all Americans, while more responsibly managing taxpayer dollars.