Alliant Energy has closed on a $5.1 billion lower-interest loan package from the U.S. Department of Energy’s (DOE) Office of Energy Dominance Financing (EDF). Over the life of the 30-year loans, Alliant Energy projects up to $1.2 billion in cumulative customer savings. In addition to lowering costs for customers, the company projects more than 1,600 local jobs will be created during construction of the projects supported by the loans.

“As energy needs continue to grow across the communities we serve, we are making smart, forward-looking investments to deliver safe, reliable and cost-effective energy for our customers,” according to Lisa Barton, President and CEO of Alliant Energy. “This federally backed financing helps lower the cost of building the generation and critical energy infrastructure our customers depend on, while strengthening the grid and supporting long-term savings. We are focused on meeting growth responsibly, maintaining affordability and creating lasting value for customers and communities across Iowa and Wisconsin.”

Alliant Energy plans to use the funding to lower costs for constructing and upgrading resources under the company’s all-of-the-above approach to generation, ensuring reliable and affordable energy to meet growing demand. All proposed projects will be advanced through a transparent regulatory process and represent critical investments in the energy infrastructure needed to serve customers for decades to come.

The federal financing commitment provides Alliant Energy access to up to $5.1 billion of lower-cost capital, subject to project advancement, qualification and financing terms.