Iowa gets $3.6 billion investment in renewable energy

Wind turbine in cornfield

MidAmerican proposes massive wind energy project in Iowa

The state of Iowa may be getting a huge boost in its renewable energy sector, as a major clean energy initiative has been proposed.

MidAmerican Energy recently filed a request with the Iowa Utilities Board to build Wind XI, a massive wind energy project. All told, Wind XI would bring 2,000-megawatt (MW) of clean power to the state.

“Once the project is complete, we will generate wind energy equal to 85 percent of our annual customer sales in Iowa, bringing us within striking distance of our 100 percent renewable vision.” — Bill Fehrman, CEO and president of MidAmerican Energy

One word sums up the project: Large

MidAmerican Energy’s proposed $3.6 billion build is not only the biggest wind project MidAmerican Energy has ever undertaken, it would also be the biggest economic development project in Iowa history.

And, MidAmerican says it will be built without a rise in customer rates or financial contributions from the state.

Economic benefits

Iowa Governor Terry Branstad fully supports Wind XI and Iowa’s push toward clean energy sources.

“We welcome this opportunity to expand Iowa’s renewable energy and thank MidAmerican Energy for making this investment in our great state. Every wind turbine you see in Iowa means income for farmers, revenue for counties and jobs for Iowa families.” — Iowa Governor Terry Branstad

According to MidAmerican, Wind XI will provide many economic benefits for Iowa along with the new renewable energy: more than $12 million per year in property tax payments, approximately $18 million per year in landowner payments, and about another $48 million per year in state and local expenditures.

Source → MidAmerican Energy