MidAmerican Plans a $3.6 Billion Wind Turbine Project

MidAmerican Energy, an energy company based in Des Moines, Iowa and a subsidiary of Berkshire Hathaway Energy, announced a major project to provide cleaner, renewable energy in future for the state of Iowa. The company plans to add 1,000 wind turbines in Iowa, at a record cost of $3.6 billion, moving it closer to providing 100% renewable energy to its customers and increasing the share of electricity that Iowa generates from wind to 40% from 31%. The new project, dubbed Wind XI, can be completed without additional cost to customers as the entire $3.6 billion will be recouped through federal tax incentives over 10 years. The company will use renewable-energy tax credits that Congress extended last December to make the project economically feasible. The company has already spent $6.6 billion on wind generation over the past 12 years. It will get close to 60% of its energy from wind by year’s end. Even with 100% of its energy from renewable sources, the investor-owned utility has no plans to retire its coal and natural gas plants. Coal-fired plants remain the leading source of electricity in Iowa, providing 53% of power in 2015, while nuclear, natural gas and hydroelectric power generators produced roughly 16%, according to the U.S. Energy Department.

Read Full News At: http://bit.ly/22PmzoK


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