LNTAlliant Energy Corporation

“Evidence of this strategy in action was shown through last week when we joined the QTS leadership in Cedar Rapids to welcome U.S. Secretary of Energy Chris Wright and Iowa legislators to tour the site. This $10 billion development, the largest economic investment in Iowa's history, underscores our role in enabling innovation, job creation, and long-term economic diversification in the communities we serve.”

“We now have five fully executed data center agreements representing approximately 3.4 gigawatts of contracted demand, with three of these projects under active construction. Importantly, we have secured the generation resources needed to reliably serve this load, which now represents more than a 60% increase in our current peak demand.”

“First-quarter ongoing earnings exclude a $0.05 benefit from the remeasurement of deferred tax assets, reflecting updated state income tax apportionment assumptions driven by higher projected electric utility revenues from commercial and industrial customers, including data centers.”

“we executed a new 370 megawatt electric service agreement with a hyperscale customer in Iowa, with a full load ramp expected by 2030. To support this growth, we have entered into an agreement with a high-quality counterparty to construct a simple-cycle natural gas facility.”

“We have entered into a contract for up to 1.1 gigawatts.”

“Data center customers are very interested in speed to market. Because we operate in a wind-rich area—in Iowa there is about 6 gigawatts of load today between MidAmerican and Alliant and about 15 gigawatts of wind—energy largely comes from wind, which we can take advantage of.”

“we currently have one active Iowa docket for a 720 megawatt natural gas combustion turbine project, which was filed earlier this week, and five active Wisconsin dockets, including the individual customer rate filing for the Meta data center at Beaver Dam”

“Looking ahead, we continue to make strong progress on the 2 to 4 gigawatts of future large load opportunities we first announced six months ago.”

“There is no one specific answer. These represent conversations with all different-sized entities. What I can say about the 2 to 4 is we hold ourselves to a very high standard. These are mature opportunities where we have a higher level of confidence. We make sure they have land control, that they are in active discussions with our team, and that transmission studies are either ongoing or complete.”

“Iowa has more land mass. If you think about our service territory, it is about twice the physical service territory of Wisconsin and has very strong transmission interconnections. We still have very strong transmission interconnections and opportunities in Wisconsin as well. But, as mentioned in the past, Iowa has about 75% of the communities that we touch there versus 40% in Wisconsin.”

“Think of it as incrementally beneficial. When we contract these data center loads and the new generation needed to support them, we are focused on ensuring that we capture some level of margin such that we will be able to share back with the rest of the customers—the differential between the revenue stream from those data centers and the costs related to the generation.”

“It is primarily batteries and peakers. Recall that we have focused on simple cycles that allow us to invest later in these facilities should we need the energy resources. Iowa in particular is very rich in wind resources that provide a lot of energy. Batteries and simple cycles allow us to capture speed to market.”

“every time we have an ESA, we will be announcing that on a quarterly basis. On our third-quarter earnings call and at EEI, we will provide a full update of our resource plan, which will include providing the generation necessary to support the 370 megawatts and an update on our EPS and growth trajectory.”

“We guide data center customers to low-cost, transmission-ready sites in our service territories. And because our more recent electric service agreements are capacity-only, the investments required to serve this load are primarily energy storage and natural gas combustion turbines.”