Alliant Energy targets 1 gigawatt more data-centre demand as AI power rush grows
Alliant Energy expects to sign contracts for about 1 gigawatt of additional data-centre demand within six months, its finance chief said on Friday, 30 October, as rising use of artificial intelligence (AI) and growing electrification push United States power demand to record highs.
Chief Financial Officer Robert Durian gave the target on a post-earnings call, Reuters reported. The new load would add to the 3.4 gigawatts Alliant has already contracted with Alphabet’s Google, Meta Platforms and Blackstone-backed QTS Data Centers, and is expected to begin ramping up between 2029 and 2031.
The utility raised its four-year capital spending forecast by 19% on Thursday, 30 October, to $15.9 billion for 2027 to 2030. It expects peak demand across its system to increase by more than 60% by 2031. Alliant serves roughly 1 million electric customers and 427,000 natural gas customers across Iowa and Wisconsin.
The company also reported stronger third-quarter results. Earnings were $1.52 per share, up from $1.09 a year earlier, while revenue rose 6.2% to $1.29 billion. Alliant narrowed its 2026 earnings guidance to $3.41 to $3.46 per share and set 2027 guidance of $3.63 to $3.73 per share. Durian said earnings growth could beat the company’s 8% target if spending rises further to support future load growth. Alliant also expects Meta to begin taking transmission service in Wisconsin in the first quarter of 2027.
Why it matters
This is a clear sign that the AI power rush is turning into signed contracts and real spending, not just announcements. Alliant’s pipeline shows data centres now shaping how a mid-sized American utility plans its grid for the next decade. Building that capacity costs billions, and regulators and customers will watch how the bill is shared between the big technology firms and ordinary households.
What happens next
The first test is whether Alliant signs the extra 1 gigawatt within the six months it promised. The next milestones are Meta starting transmission service in Wisconsin in early 2027 and decisions on Wisconsin’s large-load tariff, which will set the terms for serving them. The new demand itself is not expected to ramp up until 2029 to 2031, so the spending will come well before the power is fully used.
This article is for general information and education only. It is not legal or financial advice.
Sources
- https://srnnews.com/alliant-targets-1-gw-of-new-data-center-contracts-in-six-months-as-power-demand-surges/ (Reuters via SRN News, 30 October 2026)
- https://WWW.ZACKS.COM/stock/news/3019935/alliant-energy-q3-earnings-surpass-estimates-revenues-rise-yy (Zacks, 30 October 2026)
- https://www.fool.com/earnings/call-transcripts/2026/10/30/alliant-energy-lnt-q3-2026-earnings-call-transcript/ (The Motley Fool, 30 October 2026)
