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Buffett’s MidAmerican Plans $1.9 Billion of Wind Farms in Iowa

May 8 (Bloomberg) -- A unit of Warren Buffett’s MidAmerican Energy Holdings Co. plans to invest $1.9 billion to build additional wind farms in Iowa that would increase its wind generating capacity in the state by about half.

MidAmerican Energy Co., Iowa’s largest utility, plans to build as much as 1,050 megawatts of new wind power plants in the state, adding to about 2,285 megawatts of projects that it already owns and operates, the Des Moines, Iowa-based company said today in a statement on its website.

MidAmerican is the largest U.S. owner of wind generation capacity among rate-regulated utilities, according to the statement. Iowa ranks third in the U.S. for states with the most wind generating capacity, behind Texas and California, according to the American Wind Energy Association.

The projects may include as many as 656 new wind turbines and be completed by the end of 2015, and the proposal requires approval from the Iowa Utilities Board, according to the statement.

MidAmerican Energy Holdings Co. is a subsidiary of Buffett’s Omaha, Nebraska-based Berkshire Hathaway Inc.

To contact the reporter on this story: Andrew Herndon in San Francisco at aherndon2@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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