Energy & Environment

Trump Hands Alliant Energy $5.1 Billion in Loans Ahead of Key Midterm Races in Iowa and Wisconsin

It’s the 10th energy project financed by the Trump administration’s Office of Energy Dominance Financing, which has over $289 billion in loan authority.

Tosin Akintola | 10.28.2026 5:35 PM

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(Illustration: Midjourney)

On Wednesday, the Office of Energy Dominance Financing at the U.S. Department of Energy announced it had closed a $5.1 billion loan package to Alliant Energy—a utility company with over 1.5 million customers across Iowa and Wisconsin—to "lower electricity costs, expand firm power generation, and strengthen grid reliability" in the Midwestern states. 

The loan package is part of the Energy Department's response to President Donald Trump's April 2025 executive order directing the agency and its secretary, Chris Wright, to ensure the nation uses "all available power generation resources" to expand and secure America's electric grid amid growing demand. 

In a press release, Alliant said the 30-year loan package will finance 1.6 gigawatts of new natural gas generation, 240 megawatts of increased capacity at its existing natural gas facilities, and a gigawatt of energy storage. The loan package will also allow Alliant to add 2 billion cubic feet of liquefied natural gas storage. All told, these upgrades and additions will generate........

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