Denmark’s Vestas to Supply 1,000 Turbines for Berkshire’s Iowa Wind Farm

(BRK.A), (BRK.B)

Vestas, the only global energy company dedicated exclusively to wind energy, will supply up to 1,000 V110-2.0 MW wind turbines for MidAmerican Energy’s new Iowa 2 GW Wind XI farm.

The deal is pending the project’s anticipated approval by the Iowa Utilities Board, and when completed would mean that 85% of the state’s power comes from wind generation.

MidAmerican’s eventual goal is to be the first utility to provide its customers with 100% renewable energy generation.

The turbines will be installed between 2016 and 2019, and Vestas will also receive a five-year Active Output Management 4000 service agreement that includes extension options for up to 10 years.

Headquartered in Denmark, Vestas has already installed 55,000 wind turbines in more than 70 countries across six continents. The company has four manufacturing plants in Colorado.

© 2016 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.