By April 15, 2016 Read More →

MidAmerican Energy announces $3.6B Iowa wind project

MidAmerican Energy project the largest in company’s history

MidAmerican Energy

MidAmerican Energy says once the Wind XI project will be the largest economic development project in Iowa.  MidAmerican Energy Facebook photo.

On Friday, MidAmerican Energy announced it will be undertaking its largest project yet; Wind XI, a $3.6 billion wind project that will provide clean energy to Iowa.

Along with the 2,000 megawatts of wind generation, the project is the largest economic development project in the state’s history and MidAmerican says it will be completed without increasing customer rates or accessing state financial assistance.

The company calls the project a giant step toward MidAmerican’s goal of 100 percent renewable energy for customers in Iowa.

“We have a bold vision for our energy future,” said Bill Fehrman, CEO and president of MidAmerican Energy. “We don’t know of another U.S. energy provider that has staked out this 100 percent position. Our customers want more renewable energy, and we couldn’t agree more.”

Upon completion of the Wind XI project, wind energy will supply an equivalent of 85 per cent of customer sales in Iowa.

As well, the development of additional renewable energy will put MidAmerican Energy and the state of Iowa in a good position to comply with carbon emissions limits and other regulatory requirements.

Gov. Terry Branstad said he is proud of MidAmerican Energy’s long-standing and ongoing commitment to clean energy, which has helped make Iowa a national leader in renewable energy.

“Wind XI puts Iowa on track to be the first state in the nation to generate more than 40 percent of its energy needs from wind power – far ahead of any other state. Today, Iowa is the only state to have crossed the 30 percent mark,” Branstad said.

Branstad added “every wind turbine you see in Iowa means income for farmers, revenue for counties and jobs for Iowa families.”

Director of the Iowa Economic Development Authority, Debi Durham said wind power supports as many as 7,000 jobs in Iowa. She said the industry’s growth, its cost competitiveness and job creation have been driven by the wind production tax credits.

“Today’s announcement continues to build Iowa’s legacy in the renewable energy space – and in a very real way, provides economic benefits to all Iowans,” Durham said.

Fehrman detailed some of the many economic benefits Wind XI will generate in the state: approximately $12.5 million per year in property tax payments, $18 million per year in landowner payments, and $48 million per year in state and local expenditures associated with the project.

“We now have wind farms in operation or under construction in 23 Iowa counties and have partnered with more than 2,400 Iowa landowners – and we are prepared to do much more in pursuit of our 100 percent renewable vision,”  said Fehrman.

The company is currently working to finalize locations for the Wind XI development.


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