The Iowa Utilities Board Dec. 5 issued an order approving MidAmerican Energy Company’s proposed “Wind XII” project that will allow the company to build up to 591 megawatts (MW) of new wind electric generation in Iowa.
The exact location and Iowa counties impacted are unknown at this time.
MidAmerican estimated the project construction cost in its filing at $922 million.
The IUB order states that MidAmerican has satisfied conditions in Iowa Code and is therefore eligible for advance ratemaking principles associated with the project. In the settlement agreement, the ratemaking principles approved establish a cost cap of $1.56 million per MW, including allowance for funds used during construction. The agreement also provides an allowed return on the common equity portion of Wind XII that will be included in Iowa electric rate base at 11 percent.
MidAmerican filed its Wind XII request for advance ratemaking principles with the Board on May 30, 2018.
The completed wind project will give the utility company more than 6,600 MW of renewable generation in Iowa. MidAmerican said in its filing that Wind XII will, in 2021, allow the company to generate enough renewable energy to cover 100% of its customers’ annual energy needs.
According to reports it’s still to be determined how many new turbines will be built and where. The company already owns more than 2,200 wind turbines in Iowa, and they’re located in 27 counties.
The exact locations are normally kept confidential as negotiations proceed with prospective landowners and MidAmerican maps out its footprint in the targeted area.
The proposed 200 MW wind farm (88 turbines) in Cherokee County will be constructed beginning in spring 2019 and online by December 2019, according to developer EDF Renewables.
EDF Renewables has signed an agreement to supply Google, a subsidiary company of Alphabet (NASDAQ: GOOGL) with 200 megawatts (MW) of wind energy generated from the new Glaciers Edge Wind Project north and west of Marcus.
Benefiting involved land owners bank accounts and spiking County tax revenue when completed, Glaciers Edge Wind Project is expected to create more than 150 jobs during the construction phase, along with millions of dollars injected into the local economy. Once the wind farm comes online in December 2019, the additional capacity will help Google reach its goal of purchasing enough renewable energy to match its energy consumption for global operations.
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