Government / Industry

MidAmerican Energy Proposes $280 Million Wind Project

MidAmerican Energy Proposes $280 Million Wind Project

Iowa’s Adam’s County will get a new wind farm as MidAmerican Energy Company announced plans today to open a new wind farm and expand a second site in O’Brien County in 2015, investing $280 million in wind turbines.

MidAmerican, the nation’s leader in wind-powered generators, proposed a wind project that would result in the installation of up to 67 new wind turbines. The project is slated for completion by the conclusion of 2015 and would add up to 162 megawatts of new wind generation capacity in the state of Iowa.

“With this proposed expansion, beginning in 2016, MidAmerican Energy’s wind resources are expected to produce an amount of energy equivalent to approximately 50 percent of the retail energy customers are expected to need,” president and CEO Bill Fehrman said. Fehrman believes the project reflects the company’s commitment to the development of renewable energy sources.
Using wind as the main source to generate energy for this project allows the company to reduce its use of fossil fuels, which in turn, helps stabilize electric rates for consumers. Energy costs passed through to consumers are projected to be reduced by nearly $93 million over 10 years as a result of the project.

MidAmerican is working with county officials and local landowners to purchase rights for the proposed project sites, which are expected to provide an additional $40 million in property tax revenues over the coming 30 years. The next step in the process is to file for approval of it’s expansion project with the Iowa Utilities Board. Once approved, construction could start as soon as the summer of 2015.

Coupled with projects currently in progress in Grundy, Madison, O’Brien and Webster counties, MidAmerican Energy will have nearly 3,500 megawatts of wind generation capacity in Iowa by the end of 2015, enough to provide clean energy to 1 million Iowa households. Once this new project is completed, MidAmerican will have invested more than $6 billion for renewable energy development in Iowa, making renewable sources 40 percent of its electric output.

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1 Comment

  1. Jake

    December 20, 2015 at 10:17 pm

    The fluctuation in fossil fuel price coupled with zero intrest rates have been a boom to large ulilities. They used cheap money to control the wholesale prices of fossil fuels using derivatives. I myself think these wind farms investments should be in partnership with state and federal government. After all it’s the citizens that use the power. They should also own and profit from wind power seeing they are the end user.

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