Branstad, MidAmerican Energy announce $1.9 billion wind energy project
May 8, 2013 12:34 PM
Des Moines Register
Iowa Gov. Terry Branstad announced Wednesday that MidAmerican Energy Co. will invest $1.9 billion in wind energy generation in Iowa by 2015.
Branstad described it as the biggest capital investment in the state’s history.
MidAmerican Energy Announces $1.9 Billion Investment in Additional Wind Generation Capacity Plans to Build Up to 1,050 Megawatts Before Year-End 2015
(DES MOINES) – MidAmerican Energy Company is announcing its plans to add up to 1,050 megawatts of wind generation, consisting of up to 656 new wind turbines, in Iowa by year-end 2015. The wind expansion will enhance economic development and provide in excess of $360 million in additional property tax revenues over the next 30 years. Landowner payments totaling $3.2 million per year also are expected as a result of the expansion. In addition, the expansion is planned to be built at no net cost to the company’s customers and will help stabilize electric rates over the long term by providing a rate reduction totaling $10 million per year by 2017, commencing with a $3.3 million reduction in 2015.
Gov. Terry Branstad, a champion for wind energy in Iowa, commented on the proposal. “As a leader in wind generation, the state of Iowa welcomes the opportunity to expand our renewable energy portfolio. MidAmerican Energy’s proposed project will be the largest economic development investment in the history of the state, bringing needed jobs to Iowa, as well as significant economic benefits.”
Lt. Gov. Kim Reynolds reiterated that message. “MidAmerican Energy has been a long-standing partner with the state of Iowa, and we look forward to working with them on this wind proposal. In addition to helping boost our state and local economies, the expansion would create approximately 460 construction