KEY POINTS
-
The U.S. Department of Energy closed a $5.1 billion loan package for Alliant Energy on Oct. 28.
-
Investments in Iowa and Wisconsin may include natural gas-fired plants, storage and upgrades to existing generation.
-
The DOE says the investments will add more than 2.6 gigawatts of new or upgraded capacity and create hundreds of construction-related jobs.
Loan Supports Multiple Types of Power Work
The U.S. Department of Energy’s Office of Energy Dominance Financing closed a $5.1 billion loan package for Alliant Energy on Oct. 28.
The investments will support new natural gas-fired power plants, energy storage systems and upgrades to existing generation facilities in Iowa and Wisconsin, according to the DOE statement.
Alliant Energy provides energy service to around 1 million electric and 430,000 natural gas retail customers across Iowa and Wisconsin.
DOE Estimates More Than 2.6 Gigawatts of Capacity
The projects are expected to add more than 2.6 gigawatts of new or upgraded power-generation capacity.
The DOE said the work could deliver more than $1 billion in electricity-cost savings for families and businesses across both states and create hundreds of construction-related jobs.
As a rule of thumb, one megawatt (MW) equals 1 million watts and can generally power about 800 to 1,000 homes, while one gigawatt (GW) equals 1 billion watts, or roughly enough electricity to supply 800,000 to 1 million homes.
In a separate statement, Alliant Energy said the company may pursue any of the following with the financing:
-
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
Recent Trends in Power Infrastructure Construction
ConstructConnect reported that US construction starts in Power Infrastructure, which includes generation, power lines and substations, rose 167.4% year to date through the end of September.
Separately, the November ConstructConnect Data Center Report stated that "The rapid Data Center buildout has significantly raised energy demand, making power generation and transmission an increasingly important piece of the construction industry."
Power Infrastructure construction starts have benefitted, growing at an average annual rate of 52.2% in the US from 2021 to 2025, ConstructConnect economists reported.
ConstructConnect News reported Oct. 21 on a separate $3.3 billion federal loan, through the USDA, for Oglethorpe Power’s Smarr combined-cycle facility in Monroe County, Georgia. The facility is under construction and is projected to come online in 2029.
Stay Connected
Stay connected with ConstructConnect News for construction industry news and construction market analysis to stay ahead of what’s building next.
About ConstructConnect
At ConstructConnect, our software solutions provide the information construction professionals need to start every project on a solid foundation. For more than 100 years, our insights and market intelligence have empowered commercial firms, manufacturers, trade contractors, and architects to make data-driven decisions and maximize productivity.
ConstructConnect is a business unit of Roper Technologies (Nasdaq: ROP), part of the Nasdaq 100, S&P 500, and Fortune 1000.
For more information, visit constructconnect.com
