MidAmerican Announces Iowa Wind Energy Commitment - News and Weather For The Quad Cities -

MidAmerican Announces Iowa Wind Energy Commitment

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MidAmerican Energy Company is making a commitment to wind energy in Iowa. The company planned up to 1,050 megawatts of wind generation, consisting of up to 656 new wind turbines, in Iowa by year-end 2015.

Iowa Governor Terry Branstad announced the commitment at a press conference on Wednesday.

"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," Branstad said in a release from the company.

The wind expansion hopes to expand economic development and provide $360 million in additional property tax revenues over the next 30 years. Landowner payments totaling $3.2 million per year also are expected.

In addition, the release states that "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."

MidAmerican Energy began building wind projects in 2004. To date, 1,267 wind turbines have been installed in Iowa.

"The proposed wind expansion will not only add to MidAmerican Energy's and Iowa's position as a national leader in wind generation capacity, it will help reduce future rates to our customers by as much as $10 million per year and further enhance our corporate principle of environmental respect by reducing our carbon footprint by 10.3 percent," said Bill Fehrman, president and CEO, MidAmerican Energy in the company's news release.