Alliant Energy Outlines $10B Data Center Partnership, Maintains 5%-7% Long-Term Earnings Growth Target.

Alliant Energy has outlined a $10B data center partnership and maintained its 5%–7% long-term earnings growth target. The company has begun construction on three large-scale data centers in Iowa and Wisconsin. CEO Lisa M. Barton emphasized the progress made on these projects, with physical construction underway in both states.

Alliant Energy Corporation (LNT) has outlined a significant partnership with QTS Centers, a Blackstone portfolio company, involving a planned $10 billion investment in data centers. The company has begun construction on three large-scale data centers in Iowa and Wisconsin, with physical construction underway in both states. CEO Lisa M. Barton highlighted the progress made on these projects, stating, "Physical construction has now started in both Iowa and Wisconsin on 3 large-scale data centers. Our progress to date reflects a deliberate focus on creating solutions that benefit both new and existing customers as well as our investors." [1]

The partnership with QTS Centers is a major milestone for Alliant Energy, with the QTS Cedar Rapids data center being the largest investment in the city's history. This investment is part of Alliant Energy's broader strategy to deliver transformational growth in the communities it serves. Barton emphasized the company’s approach to reporting well-developed, high-confidence projects and stated that new loans supported by signed ESAs will be included in the Q3 capital expenditure plan update. [1]

In terms of financial performance, Alliant Energy reported ongoing earnings of $0.68 per share for Q2 2025, up from $0.57 per share in Q2 2024, driven by new rates and higher sales due to temperature changes. The company also completed the construction of its first utility-scale energy storage project at the Grant County Solar site in Wisconsin and expects to complete additional projects by year-end. [2]

Alliant Energy reaffirmed its 2025 earnings guidance range of $3.15 to $3.25 per share and maintained its long-term annual earnings growth target of 5% to 7%. The company's management expressed confidence in its ability to deliver on these targets, with CEO Barton stating, "We could not be more excited about the direction of this company." [1]

Analysts have responded positively to the company's growth updates and project execution, but they have also pressed for clarity on timelines, CapEx implications, and financial flexibility. Management's tone was confident and constructive, emphasizing flexibility, high confidence in project execution, and readiness to adapt to regulatory changes. [1]

In conclusion, Alliant Energy's strategic focus on data center partnerships and capital investments, highlighted by the QTS $10 billion Cedar Rapids project, underscores the company's commitment to delivering value for shareholders through ongoing investment and operational excellence.

References:
[1] https://seekingalpha.com/news/4482732-alliant-energy-outlines-10b-data-center-partnership-and-maintains-5-percent-7-percent-long
[2] https://finance.yahoo.com/news/alliant-energy-q2-earnings-surpass-151400426.html