Friday August 26 2016
MidAmerican Energy Moves Forward With Investment in Wind XI Project
- Filed Under:
- News Release
- MidAmerican Energy Company
MidAmerican Energy Company received the final order from the Iowa Utilities Board for Wind XI today. The board’s action is a positive step toward the company’s 100 percent renewable vision.
“This is an exciting day for our customers, the state of Iowa and MidAmerican Energy,” said Bill Fehrman, president and CEO of MidAmerican Energy. “We thank the board for its support and for moving quickly to deliver this ruling.”
MidAmerican Energy announced plans for Wind XI in April 2016. Now that the Iowa Utilities Board has approved the project, the company is finalizing plans to begin construction of the 1,000 wind turbines, with completion expected by the end of 2019. Wind XI will add up to 2,000 megawatts of wind generation in Iowa and is the largest wind project MidAmerican Energy has ever undertaken. MidAmerican Energy is not asking for an increase in customer rates or financial assistance from the state to pay for it.
Wind XI will consist of multiple sites across Iowa, which are still being finalized. The wind sites will be placed into service over a three-year period, with the first sites being placed into service in 2017. The last sites will be placed into service in 2019.
“Wind energy helps us keep prices stable and more affordable for customers, provides jobs and economic benefits for communities and the state, and contributes to a cleaner environment for everyone,” Fehrman added.
The Wind XI project will generate more than $1.2 billion in landowner easement and property tax payments over the next 40 years. Additionally, during construction, it is expected that thousands of jobs will be added to Iowa’s economy and hundreds of new permanent jobs will be added when the expansion is complete.