MidAmerican Energy, a company owned by Warren Buffett’s Berkshire Hathaway, has announced plans to develop 2,000MW of wind energy capacity in Iowa, US, with an investment of $3.6bn.
The proposed Wind XI wind project is part of the company’s effort to provide 100% renewable energy to its customers.
MidAmerican said that the move increases its investment in wind energy from $6.6bn to more than $10bn in the region.
The company is yet to finalize the location for the project, which is due to secure approval from the Iowa Utilities Board.
Iowa Governor Terry Branstad said: "Wind XI puts Iowa on track to be the first state in the nation to generate more than 40% of its energy needs from wind power – far ahead of any other state. Today, Iowa is the only state to have crossed the 30% mark.
"We welcome this opportunity to expand Iowa’s renewable energy and thank MidAmerican Energy for making this investment in our great state. Every wind turbine you see in Iowa means income for farmers, revenue for counties and jobs for Iowa families."
According to the company, savings on fuel costs, along with production tax credits, have made wind an economical option.
Besides creating 7,000 jobs in the region, the Wind XI project is expected to generate nearly $12.5m in property tax payments and $18m in landowner payments every year.
Upon completion of the project in 2020, the company will generate 85% of its power from wind energy. It will also increase Iowa’s installed wind capacity to 6,000MW, reported Bloomberg.
The company currently has wind farms in operation or under construction in 23 Iowa counties.
Image: MidAmerican Energy plans to provide 100% renewable energy to its customers. Photo: courtesy of dan / FreeDigitalPhotos.net.