Buffett’s MidAmerican Starts Wind Farm Before Credit Ends
MidAmerican Energy Holdings Co., the power provider owned by Warren Buffett’s Berkshire Hathaway Inc. (BRK/A), completed 300 megawatts of wind farms in California ahead of the expiration of a tax credit at the end of this year.
MidAmerican Renewables LLC completed the 168-megawatt Pinyon Pines Wind I and the 132-megawatt Pinyon Pines Wind II projects near Tehachapi, the Des Moines-based company said today in a statement. The 100 Vestas Wind Systems A/S (VWS) 3-megawatt turbines will supply Edison International (EIX)’s Southern California Edison with electricity under long-term contracts.
Developers are racing to finish projects before the production tax credit, which provides incentives to wind farms completed before Dec. 31, expires. The tax credit has helped make wind the largest source of new capacity in the U.S. this year.
“We are pleased to have met our timeline for building the two projects and placing them in service before year-end 2012,” Tom Budler, president of MidAmerican Wind, said in the statement.
With the two projects, MidAmerican Renewables now has more than 1.2 gigawatts of energy assets in operation or under construction, it said.
To contact the reporter on this story: Ehren Goossens in New York at egoossens1@bloomberg.net
To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net
Rate this Page
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.