In light of the recent federal production tax credit (PTC) extension, MidAmerican Energy Co. says it wants to invest $1.9 billion to add up to 1.05 GW of wind generation in Iowa by year-end 2015.
If approved by the Iowa Utilities Board, MidAmerican says the proposed expansion will add to the approximately 2.285 GW of wind generation capacity the company currently owns and operates in Iowa. In addition, the company says the expansion is planned to be built at no net cost to its customers.
"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," notes Bill Fehrman, president and CEO of MidAmerican Energy.
Gov. Terry Branstad, R-Iowa, a champion for wind energy in the state, commented on the proposal.
"As a leader in wind generation, the state of Iowa welcomes the opportunity to expand our renewable energy portfolio,’ he said. ‘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."