Alliant Energy Corporation announced on October 26, 2026, that its utility subsidiaries, Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), have entered into definitive agreements with the U.S. Department of Energy (DOE) to secure loan guarantees for energy infrastructure projects.
Under the agreements, WPL entered into a loan guarantee agreement (WPL LGA) and related credit facility documents with the DOE. Separately, IPL executed a loan guarantee agreement (IPL LGA) and corresponding credit facility documents. The Company states that it is not a party to these agreements and has no direct obligations under them.
The credit facilities allow the subsidiaries to borrow funds through the Federal Financing Bank (FFB) to reimburse themselves for eligible project costs, which include energy generation, transmission infrastructure, and grid resilience technologies. The maximum guaranteed loan amounts are $1,626,488,000 for WPL and $3,500,000,000 for IPL.
Advances under the facilities are subject to standard loan conditions, including environmental reviews, regulatory approvals, and investment grade credit ratings. Borrowings are full recourse, senior unsecured obligations of the respective subsidiaries. The scheduled final maturity date for all borrowings is May 15, 2056. Interest rates are set at the applicable U.S. Treasury rate plus a spread of 37.5 basis points.
- WPL Facility: Maximum $1,626,488,000; principal payable in four equal annual installments starting May 15, 2053.
- IPL Facility: Maximum $3,500,000,000; principal payable in five equal annual installments starting November 15, 2052.
The agreements include standard covenants and events of default, including requirements for mandatory prepayments if eligible projects cease to qualify or if regulatory cost recovery thresholds are not met.
