New Projects, Renewables, Wind

MidAmerican Energy to invest $280M in wind power

MidAmerican Energy Co. announced plans to invest an additional $280 million for the development of a new wind farm in Adams County, Iowa; and to expand a second site in O’Brien County in 2015.

If approved, the company’s wind projects would result in the installation of up to 67 wind turbines, manufactured by Siemens (NYSE: SI), and add up to 162-MW of new wind generation capacity in the state.

Energy costs passed to customers are projected to be reduced by approximately $93 million over 10 years.

“Wind is now the No. 1 source of new electric generating capacity in the country, and Iowa derives a greater percentage of its electricity from wind than any other state,” said Lieutenant Gov. Reynolds.

MidAmerican Energy is working with county officials and landowners to secure necessary permits for the sites. The next step in the development process is for MidAmerican Energy to file for approval of its wind expansion project with the Iowa Utilities Board. If approved, construction could start in the summer of 2015, with completion by the end of that year.

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