Alliant Energy Projects 7% Earnings Growth Through 2029 Amid Data Center Surge

Alliant Energy (LNT) has signaled a strong growth trajectory for the latter half of the decade, targeting a compound annual growth rate (CAGR) in earnings of 7% or more between 2027 and 2029. This outlook underscores the company's strategic positioning to benefit from the expanding energy needs of the digital economy. This growth is primarily underpinned by the escalating energy requirements of the technology sector. The company revealed that contracted demand from data centers has now reached 3.4 GW, reflecting the broader trend of AI-driven infrastructure expansion and the resulting need for massive power capacity. Regarding current performance, CEO Lisa Barton noted that the first quarter of 2026 has started exceptionally well. Despite mild weather conditions, which typically lower energy consumption and impact utility revenues, the company's ongoing earnings for Q1 represented approximately 25% of the midpoint of its full-year guidance. For investors, the shift toward data center-driven demand transforms the traditional utility profile from a slow-growth defensive play into a growth-oriented infrastructure play. The ability to secure long-term contracts for gigawatt-scale loads provides significant visibility into future revenue streams and capital expenditure planning.