Warren Buffett's MidAmerican Energy begins $1.9 billion wind power project

MidAmerican Energy Co. has started Iowa's largest wind generation expansion, totaling 448 turbines and $1.9 billion at five sites around the state. The announcement was originally reported by the Omaha World Herald.
Warren Buffett

MidAmerican revealed its plan to developed as much as 1.050 MW of additional wind generation in the US state of Iowa in May 2013.

As of this week, construction is now underway in five sites located in Grundy, Madison, Marshall, O’Brien and Webster counties. The entire project is expected to be completed and generating power by late 2015.

Siemens Energy is supplying the turbines.

The wind power expansion will provide in excess of $360 million in additional property tax revenues to the state over the next 30 years, and landowner payments totaling more than $3 million per year are expected.

In addition, the expansion is planned to be built at no net cost to the company’s customers and will help stabilize electric rates over the long term by providing a rate reduction totaling $10 million per year by 2017, commencing with a $3.3 million reduction in 2015.

MidAmerican has installed 1,276 other wind turbines in Iowa since 2004. No other US rate-regulated utility owns more wind-powered generation capacity.

In 2011, MidAmerican Energy added 593.4 MW of new wind-powered generation to its existing wind portfolio in Iowa. The projects included the 443.9-MW Rolling Hills wind project, located in Adair, Adams and Cass counties; the 119.6-MW Laurel wind project, located in Marshall County; and the 29.9-MW Pomeroy wind expansion project, located in Pocahontas and Calhoun counties. The three projects consist of 258 wind turbines.

In 2012, MidAmerican completed a 407-MW wind expansion project in Iowa. The 2012 expansion included the 105.6-MW Vienna wind project, located in Marshall and Tama counties; the 200.1-MW Eclipse wind project, located in Guthrie and Audubon counties; and the 101.2-MW Morning Light wind project, located in Adair County. The three projects consist of 176 wind turbines.

In 2012, MidAmerican Energy also was recognized with the Platts Global Energy Green Energy Supplier of the Year Award for its wind expansion projects.

According to a story written by World Herald Staff Writer Steve Jordon, the turbines installed for the utility's latest project will have a capacity to provide power for about 317,000 homes.

MidAmerican Energy Holdings Company is 89.8% owned by Warren Buffett's Berkshire Hathaway.

For additional information:

MidAmerican Energy

Are you now going to write that Mr. Buffet has admitted the ONLY reason to build wind facilities is to shelter tax money via tax credits? This was his admission just four days ago. As the world is discovering, wind doesn't work except as a way to protect the wealthy.
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