Julie M. Rodriguez

Warren Buffet Spends $1 Billion on Largest Land-Based Wind Power Purchase Ever

by , 12/18/13
filed under: News, Wind Power

warren buffett, wind turbines, wind power, wind power purchase, land-based wind power, Iowa power, utility companies, MidAmerican Energy, wind power prices, clean energy investmentsPhoto © Shutterstock

Warren Buffet’s utility company, MidAmerican Energy Holdings Co, announced yesterday that it had placed a massive order for 448 wind turbines, worth $1 billion. The turbines, which will be installed in Iowa, represent the largest order to date for a land-based wind energy project.

warren buffett, wind turbines, wind power, wind power purchase, land-based wind power, Iowa power, utility companies, MidAmerican Energy, wind power prices, clean energy investmentsPhoto © Shutterstock

$1 billion may sound like a lot, but when you look at the numbers behind the deal, it starts to make sense. Not only is wind the cheapest source of power in Iowa right now, turbine prices have also fallen by 26% worldwide since 2009. Siemans, the manufacturer of turbines in question, is pointing to the purchase as a sign that wind power is becoming competitive even without government subsidies.

This move is part of a long-term strategy on Buffet’s part — his company is already planning to slowly close down some of its coal-powered plants in 2015 as the new turbines start to go online. He’s pointed out before that utilities can easily make investments in clean energy if they simply retain some of their earnings each year, and now it seems he’s decided to lead by example.

Via Treehugger

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5 Comments

  1. roughdesigns December 21, 2013 at 4:15 pm

    Bravo Warren Buffet!
    The last billionaire who puts morals above socking away every dollar he can.

  2. roughdesigns December 21, 2013 at 4:12 pm

    As I’ve said elsewhere, if birds ran into hard to see until you hit it stuf all the time, we’d be hip deep in them along utility lines, bridges, tv and radio towers, and the TRUTH is, that’s not the case. Birds have wired into them what it takes to miss ‘em most of the time. Sight, pressure difference, sound, who knows, but it obviously works. If wind farms really killed enough birds to have an impact on population there’d be crews hauling them off like trash to the city dump. Get a sense of perspective, fossil fuel, ie, COAL kills thousands of times more wildlife, including HUMANS per yr, than wind farms over all time. Insist on wind farms being 1000 times safer than fossil fuel, and all you’ll do is end up with just fossil fuel plants.

  3. RelayerM31 December 19, 2013 at 9:58 am

    If it moves, it breaks. The maintenance will be awful for these bird slaughterhouses.

  4. Prototype7 December 19, 2013 at 4:16 am

    @Patrick Stafford – Pesticides, Feral Cats, Power lines, Clear Windows, and lighted communication towers each kill thousands of times more birds than wind turbines…

  5. Patrick Stafford December 18, 2013 at 6:05 pm

    This seems nice of Warren to do. But the problem is that wind turbines kill birds. And I mean thousands and even tens of thousands of birds throughout the U.S. I like renewable energy and green living, but not at the price of slaughtering our wildlife!

    Patrick P. Stafford
    Creeklife Supporter
    http://www.creeklife.com

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