Alliant Energy to Add 1 GW of Data Center Contracts within Six Months in the US

Alliant Energy plans to sign 1 GW of electric supply contracts with data center providers within the next six months, the Wisconsin-based regulated electric and gas utility disclosed on its Q3 earnings call.

Pipeline of new deals revealed during Q3 earnings call

The pending agreements would build on the 3.4GW of contracted demand the company already holds with the sector, a portfolio that includes arrangements with Google, Meta, and QTS. CEO and president Lisa Barton told investors that data centers underpin the utility's forecast for greater than 60 percent contracted demand growth by 2031.

Google and QTS sites moving ahead

Of the five contracted data center projects, three are currently under construction, according to the utility. Google is taking transmission service in Iowa, while the QTS Cedar Rapids development is expected to complete commissioning of two buildings this quarter.

Demand stretches beyond the hyperscale segment.

Barton emphasized that the surge in interest is not confined to hyperscalers. "We are also seeing progress across a diversified set of load opportunities beyond large data centers, including edge data centers and manufacturing expansion in Wisconsin and Iowa," she said.

The CEO also expressed strong conviction in the utility's capacity to meet the new load, saying the company has "an extreme level of confidence in our ability to secure the generation that we need." She noted that data center operators have been integrating well locally: "data centers are really engaging with the communities, and we're really pleased with that. There's a greater level of transparency."

Capital plan lifted to USD 15.9 billion through 2030

Reflecting the wave of data center interest, Alliant increased its 2027-2030 capital spending program by 19 percent to USD 15.9 billion. The company also raised its expected investment growth rate for the 2027 to 2030 planning period to 13 percent, up from 12 percent.

Federal loan projected to save customers USD 1.2 billion

On the earnings call, the utility also highlighted a USD 5.1 billion loan from the Department of Energy. It estimated the financing would deliver up to USD 1.2 billion in cumulative customer savings over the 30-year life of the loans.

Who Alliant Energy serves

Headquartered in Madison, Wisconsin, Alliant primarily operates through two regulated utility subsidiaries: Interstate Power and Light Company, which serves Iowa, and Wisconsin Power and Light Company, which serves Wisconsin. Together, they serve up to 1.5 million customers.