Alliant Energy's Q2 2025: Key Contradictions in Load Growth, QTS Investments, and Funding Strategies

Load growth and resource planning, impact of QTS investment on generation plans, equity contributions and funding, data center demand and QTS projects are the key contradictions discussed in Alliant Energy Corporation's latest 2025Q2 earnings call.



Earnings Growth and Customer Focus:
- Alliant Energy reported ongoing earnings of $0.68 per share for Q2 2025, compared to $0.57 per share in Q2 2024.
- The increase was driven by successful execution of customer-focused capital investment programs, higher electric and gas sales due to temperature changes, and favorable regulatory impacts.

Data Center Expansion and Economic Development:
- The company announced significant data center investments, with a $10 billion investment in Cedar Rapids, Iowa, and potential expansion in Wisconsin.
- These investments are expected to bring substantial economic development and growth opportunities, with the company focusing on near-term growth and alignment between new load and new generation.

Regulatory Environment and Financing:
- The company successfully executed its 2025 financing plan, issuing $575 million in convertible senior notes and $600 million in senior debentures, reflecting strong investor interest.
- The budget reconciliation law preserved existing projects and renewable tax credits, allowing the company to proceed with its capital plans for energy storage and renewable projects.

Capital Investment and Resource Planning:
- The company continues to advance strategic projects, including utility-scale energy storage and advanced gas path projects, with a focus on flexibility and adaptability in resource planning.
- This approach positions Alliant Energy to navigate potential changes in long-standing start of construction guidance and deliver cost-effective energy resources.