(BRK.A), (BRK.B)
Berkshire Hathaway’s MidAmerican Energy has placed orders for 70 MW of V110-2.0 MW turbines for its the Wind XI wind farm in Iowa.
The turbines will be manufactured at Vestas’ four Colorado factories with expected delivery in the second quarter of 2018.
In August 2016, The Iowa Utilities Board approved MidAmerican’s request to invest $3.6 billion to install additional wind turbines in Iowa by year-end 2019.
The project – Wind XI – is the largest economic development project in Iowa’s history.
When the 2,000-megawatt Wind XI project is completed, MidAmerican’s annual renewable energy generation is expected to reach a level that’s equivalent to 89% of our Iowa retail customers’ annual use.
Wind XI will generate an average of approximately $12.5 million per year in property tax payments, $18 million per year in landowner payments, and $48 million per year in state and local expenditures associated with the project.
© 2017 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.