Alliant Energy signs power supply deals with multiple data centres
The company is expanding its customer base amidst rising data demands.
Alliant Energy has secured several power supply agreements with data centres in Iowa and Wisconsin, as confirmed during a recent post-earnings call. The rise in popularity of AI tools like OpenAI’s ChatGPT has spurred the demand for high-performance data centres, necessitating substantial electricity to process large volumes of data.
The company has been actively working to attract new customers in both states, successfully signing multiple deals with data centres. These agreements highlight Alliant Energy’s strategic efforts to expand its customer base amidst the growing data demands driven by advanced AI technologies.
Despite these new deals, Alliant Energy reported a decline in second-quarter profit, impacted by a settlement agreement related to its Interstate Power and Light unit’s retail electric rate review. This led to a pre-tax non-cash charge of $60 million in the second quarter.
The company’s quarterly adjusted profit for its utilities and corporate services segment fell by 13.8%, equating to 56 cents per share, compared to the previous year. Overall profit for the quarter ended June 30 was $87 million, down from $160 million a year earlier.
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