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Buffett's MidAmerican Plans $1.9 Billion of Wind Farms in Iowa

Buffett's MidAmerican Plans $1.9 Billion of Wind Farms in Iowa

A unit of Warren Buffett's MidAmerican Energy Holdings Co. plans to invest $1.9 billion to build additional wind farms in Iowa that would increase its wind generating capacity in the state by about half.

MidAmerican Energy Co., Iowa’s largest utility, plans to build as much as 1,050 megawatts of new wind power plants in the state, adding to about 2,285 megawatts of projects that it already owns and operates, the Des Moines, Iowa-based company said in a statement on its website.

MidAmerican is the largest U.S. owner of wind generation capacity among rate-regulated utilities, according to the statement. Iowa ranks third in the U.S. for states with the most wind generating capacity, behind Texas and California, according to the American Wind Energy Association.

The projects may include as many as 656 new wind turbines and be completed by the end of 2015, and the proposal requires approval from the Iowa Utilities Board, according to the statement.

Copyright 2013 Bloomberg

Lead image: Wind turbines via Shutterstock

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03/01/2015
Volume 18, Issue 3
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