A massive wind power project has been proposed by MidAmerican Energy.
Company leaders requested to build Wind XI, which is a project that will add up to 2,000 megawatts of wind generation in the state. The Iowa Utilities Board will have to approve the $3.6 billion project.
The company said this is the largest wind project they have ever taken on and it's the largest economic development project in the state's history. Wind XI puts MidAmerican Energy one step closer to the company's goal of reaching 100% renewable energy.
A statement from the company said customer rates will not rise, nor will the state be helping to finance the project.
“Wind XI puts Iowa on track to be the first state in the nation to generate more than 40 percent of its energy needs from wind power – far ahead of any other state. Today, Iowa is the only state to have crossed the 30 percent mark,” Iowa Governor Terry Branstad said.
Director of the Iowa Economic Development Authority, Debi Durham noted that wind power supports as many as 7,000 jobs in Iowa.
The project is expected to generate $12.5 million per year in property tax payments, $18 million per year in landowner payments, and $48 million per year in state and local expenditures associated with the project.