Buffet invests $1.9 billion in Iowa wind farms
- MidAmerican Energy: “MidAmerican Energy Announces $1.9 Billion Investment in Additional Wind Generation Capacity”
May 2013: MidAmerican Energy, a subsidiary of Warren Buffet’s holding company Berkshire Hathaway, plans to invest $1.9 billion in new Iowa wind farms. The investment will add up to 1,050 megawatts (MW) of wind generation in Iowa by the end of 2015. According to the company’s website, the expansion will also enhance economic development and provide in excess of $360 million in additional property tax revenues over the next 30 years.
To date, MidAmerican Energy has installed 1,267 wind turbines in Iowa, representing a total investment of approximately $4 billion.
“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.”
Governor Terry Branstad, State of Iowa (Source: MidAmerican Energy)