Warren Buffett’s investment firm Berkshire Hathaway has a plan for a solar and wind renewable energy project. The project is called Wind Prime, according to Bloomberg, and experts believe it will be the largest facility of its kind built in the United States. The construction of the facility will cost 3.9 billion dollars, writes Oilprice.
Wind Prime will produce over 5 GW of wind energy and about 50 MW of solar energy. The facility is planned for Iowa, a statement from Berkshire Hathaway’s subsidiary said. MidAmerican Energy. The production capacity will be enough to power about 600,000 households, according to Bloomberg.
“Iowa is a leader in renewable energy production, thanks to MidAmerican Energy’s proven experience and the company’s clean energy investment, which is a competitive advantage for our state,” said Iowa Gov. Kim Reynolds.
According to recent statements by MidAmerican Energy, the company has invested about $ 14 billion in renewable energy projects in Iowa since 2014. In addition to the upcoming $ 4 billion investment, the company plans to invest in research into other energy technologies, including nuclear reactors.
So far, Iowa relies on wind energy for as much as 40% of the state’s total energy production. Buffett himself noted that wind power has drastically reduced the electricity bills of the company’s Iowa customers.
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