Dive Brief:
- Warren Buffett-owned utility MidAmerican Energy announced late last week that it has submitted plans with the Iowa Utilities Board to develop 552 MW of new wind, an investment of about $900 million.
- MidAmerican plans to start building the wind projects in early 2016 and finish construction by the end of 2016.
- State regulators need to approve the two proposed projects for the company to build.
Dive Insight:
MidAmerican Energy already owned more wind capacity than any other regulated U.S. utility — and these projects will only extend the company's wind leadership.
MidAmerican owns 2,840 MW of wind capacity today, according to the company's website. That will figure will rise to 3,335 MW when the 495-MW Highland wind farm is completed in 2015. MidAmerican forecasts its total wind capacity will eclipse 4,000 MW by the time these two new projects are online. MidAmerican owned no wind at all in 2004 but has since invested $6.7 billion to become the utility leader.
“Once the proposed projects are completed, we’re projecting that 57% of our total retail load could be served with energy from these turbines,” Bill Fehrman, MidAmerican Energy president and CEO, said in a statement. "This puts us in a strong position to comply with future carbon emissions limits without placing the significant financial burden of that compliance on our customers.”
