MidAmerican Energy Proposes $3.9 Billion “Wind PRIME” Renewable Energy Project

DES MOINES, Iowa–(BUSINESS WIRE)–MidAmerican Energy today announced plans for a $3.9 billion renewable energy project in Iowa, including wind and solar generation, and exploration of new technologies to advance the company’s transition to net zero greenhouse gas emissions.

In a filing with the Iowa Utilities Board, MidAmerican’s proposed project, called Wind PRIME, would add 2,042 megawatts of wind generation and 50 megawatts of solar generation.

The company has also offered to conduct feasibility studies focused on other clean generation technologies, including carbon capture, energy storage and small modular nuclear reactors.

Wind PRIME will continue MidAmerican’s long history of supporting Iowa communities and advancing the state’s position as a leader in renewable energy. Since 2004, the company has invested approximately $14 billion in renewable energy projects in Iowa.

“Iowa is a leader in renewable energy, in large part due to MidAmerican Energy’s proven track record of clean energy commitments and investments that are a true competitive advantage for our state,” said the Governor. of Iowa, Kim Reynolds. “MidAmerican’s Wind PRIME takes commitment and investment to a whole new level, cementing Iowa’s leadership in clean energy for many years to come. Beyond that, however, the company’s commitment to studying and pursuing emerging clean energy technologies will help Iowa meet the growing demand for a sustainable economy that manages our carbon footprint.

Wind PRIME, MidAmerican’s 13and development of renewable energy generation, is aptly named both to indicate that the time has come to embark on this opportunity and to reflect that although wind is a critical element, the project also includes the generation of solar energy and the examination of new clean energy technologies that will play an important role in the transition to net zero.

“As MidAmerican continues to make progress toward providing 100% renewable energy to our customers, we are also preparing to take a significant step towards net-zero greenhouse gas emissions,” said Kelcey Brown, President and Chief management of MidAmerican. “The Wind PRIME project will position us and our customers for a sustainable future, while ensuring that we continue to provide affordable and reliable energy.

Wind PRIME would result in significant benefits for the environment and MidAmerican customers:

  • Providing 100% Renewable Energy to Customers – In 2021, MidAmerican estimates that it provided 88% renewable energy on an annual basis to customers statewide. Combined with MidAmerican’s other projects, the 2,092 megawatt Wind PRIME project would enable MidAmerican to provide renewable energy equal to the annual consumption of its Iowa customers.

  • Carbon reduction – While thermal generation will remain a necessary part of the portfolio to ensure customer reliability, the completion of Wind PRIME, in conjunction with existing non-carbon resources, should result in an overall reduction in CO2 nearly 14 million metric tons, or about 75%, of 2005 levels.

  • Striving to reach net zero – Wind PRIME also offers the study of emerging technologies, including energy storage, carbon capture and small modular nuclear generation, which will help expand MidAmerican’s ability to meet its customers’ demand for renewable energy generation as well as low-carbon and carbon-free generation.

MidAmerican estimates that the Wind PRIME project will create more than 1,100 full-time jobs during the construction phase and another 125 full-time positions for ongoing operations and maintenance.

Additionally, Wind PRIME will provide an average of over $24 million per year in local property tax payments on wind turbines and solar installations, as well as over $21 million in annual easement payments to landowners.

If approved, the company plans to complete construction in late 2024.

About MidAmerican Energy

MidAmerican Energy, a subsidiary of Warren Buffett’s Berkshire Hathaway Energy, is headquartered in Des Moines, Iowa. The company serves 795,000 electric customers in Iowa, Illinois and South Dakota, and 774,000 natural gas customers in Iowa, Illinois, Nebraska and South Dakota. Information about MidAmerican Energy is available at midamericanenergy.com and on the company’s social media channels.

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