Alliant Energy expects 1GW of data center contracts in six months

Alliant Energy expects to sign 1GW of new electric supply contracts with data center operators over the next six months. That would add to the 3.4GW the Wisconsin utility has already contracted with the sector.

Alliant lifted its 2027-2030 capital spending program by 19% to $15.9 billion and raised its expected investment growth rate for the period to 13% from 12%. The contracted 3.4GW includes agreements with Google, Meta and QTS. The expected 1GW was disclosed on the company's third-quarter earnings call, as Data Center Dynamics reported.

For allocators who hold regulated utilities as a proxy for data center load growth, the question is how much of the larger capital program Iowa and Wisconsin regulators allow into rate base. Planned spending earns its return only if commissions accept it as prudent and agree on how costs are divided among customer classes.

Three of the five contracted data center projects are under construction, with QTS expected to complete commissioning of two Cedar Rapids buildings this quarter. Google is already taking transmission service in Iowa.

"Data centers support our expectation for greater than 60 percent contracted demand growth by 2031," chief executive and president Lisa Barton said on the call. Barton said interest extends beyond hyperscalers to edge data centers and manufacturing expansion in Wisconsin and Iowa.

Alliant estimates $5.1 billion of 30-year Department of Energy lending will produce up to $1.2 billion in cumulative customer savings. As Private Infrastructure Daily previously reported, Alliant's $5.1 billion share has closed across two subsidiaries. The company expects to sign the 1GW within the six-month window that began with the earnings call.