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Denmark-based Vestas has received a firm and unconditional order from MidAmerican Energy Company for 214 MW of Production Tax Credit (PTC) qualifying V110-2.0 MW turbine components.
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 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.
“Wind energy helps us keep prices stable and more affordable for customers. It provides jobs for Iowans and other economic benefits for our customers, communities and the state. Wind energy also contributes to a cleaner environment for everyone,” said Bill Fehrman, president and CEO, MidAmerican Energy. “We are proud to expand wind generation in Iowa. And, our customers appreciate that we’re doing it without asking for an increase in rates to pay for it.”
“With this order, MidAmerican positions itself to secure the full value of the PTC for the Wind XI project, and takes the next step in delivering low-cost, domestic wind energy to its customers. As the only state to generate more than 30 percent of its energy from wind, Iowa leads the country in delivering wind energy’s economic and environmental benefits to its communities, and it’s an honor to be a part of the largest wind project in the state’s history.” said Chris Brown, President of Vestas’ sales and service division in the United States and Canada.
© 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.