KC McGinnis | April 14, 2016
MidAmerican energy announced Thursday that it plans to invest $3.6 billion in an ambitious wind project in Iowa.
“The announcement is a giant step toward realizing the company’s vision of 100 percent renewable energy for customers in the state,” according to a release.
MidAmerican is currently filing a request with the Iowa Utilities Board for a project that the company claims will add up to 2,000 megawatts of wind generation, a 50% increase on top of the 3,450 megawatts of wind energy the company has already built in the state since 2004. Bill Fehrman, CEO and president of MidAmerican Energy, said once the project is complete the company will be able to generate energy equivalent to 85% of annual sales.
The announcement comes shortly after Iowa was named the top wind energy producer per capita in the country, the first to generate more than 30% of its energy from wind. Thursday’s announcement also highlighted the economic benefits of the project, bringing millions of dollars to the state in the forms of property taxes and payments to landowners and farmers. It would also push MidAmerican’s investment in Iowa wind energy over $10 billion over the last 12 years.