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MidAmerican provided 88% of customers’ power needs from renewable energy in 2021

July 13, 2022

MidAmerican Energy’s renewable energy mix in Iowa exceeded 88% last year, according to a verification order recently released by the Iowa Utilities Board.

The board’s annual verification order validates the amount of renewable energy MidAmerican delivered over the course of the year, as a percentage of total retail energy the company delivered to its Iowa customers. The 88.5% is five percentage points higher than 2020.

“We are proud to provide our customers with 88.5% renewable energy today, but we aren’t stopping there,” said MidAmerican’s CEO Kelcey Brown in a news release on Monday. “We are always planning for the future – and the Wind PRIME project is the next step. That’s a major part of our long-term goal to achieve net zero greenhouse gas emissions.”

In January, MidAmerican Energy announced plans for a $3.9 billion renewable energy project in Iowa, including wind and solar generation, plus exploration of new technologies to advance the company’s transition to net-zero greenhouse gas emissions. MidAmerican Energy said the proposed project, called Wind PRIME, would add 2,000 megawatts of wind generation and 50 megawatts of solar generation.

The company has also recently proposed conducting feasibility studies focused on other clean generation technologies, including carbon capture, energy storage and small modular nuclear reactors.

Since 2004, MidAmerican has invested approximately $14 billion in renewable energy projects across Iowa.

The Iowa Utilities Board plans to hold a hearing on the request from Oct. 31 through Nov. 4. If approved, the company plans to complete construction in late 2024.

Previous coverage

MidAmerican Energy proposes $3.9 billion renewable energy project in Iowa

Tags: MidAmerican Energy Renewable Energy

MidAmerican provided 88% of customers' power needs from renewable energy in 2021 | Clay & Milk

A central Iowa ag-tech accelerator has secured more backers and finally has a name. The Greater Des Moines Partnership first announced the accelerator last year, naming four initial investors. On Monday, the Partnership said the program will be called the "Iowa AgriTech Accelerator" and named three new investors. The new investors include Grinnell Mutual, Kent Corp. and Sukup Manufacturing, all Iowa companies. They join investors Deere & Co., Peoples Co., Farmers Mutual Hail Insurance Co. and DuPont Pioneer. Each investor has agreed to put up $100,000 for the first year of the accelerator. Startups entering the program will receive $40,000 in seed funding in exchange for 6 percent equity. Tej Dhawan, an angel investor and local startup mentor, is serving as interim director until the AgriTech Accelerator names a permanent leader. Dhawan held a similar role with the GIA before Brian Hemesath was named as managing director. As interim director, Dhawan said his main job includes hiring the accelerator's executive director, establishing a business structure and initial recruiting for the first cohort. The accelerator will place few filters, such as location and product, on the applicant pool, Dhawan said. "When you’re seeking innovation, innovation can come from every corner of the world so why restrict ourselves," he said. One area the the AgriTech Accelerator won't recruit from is biotech. For its first cohort, the AgriTech Accelerator will work out of the GIA's space in Des Moines' East Village, Dhawan said. A future, permanent home is still to be decided. The accelerator's program will host startups from mid-July through mid-October, ending with an event connected to the annual World Food Prize. The GIA, which the AgriTech Accelerator is based on, also ends with presentations at an industry event. The accelerator has also started lining up a mentor pool. The Iowa Corn Growers Association, Iowa Soybean Association and the Iowa Pork Producers Association have agreed to provide mentors, as has Iowa State University. While the AgriTech Accelerator is loosely based off of the GIA, it will differ in its business structure, Dhawan said. The GIA runs through a for-profit model for both operations and its investment fund. The AgriTech Accelerator will have a nonprofit model for its operations and a for-profit setup for its fund. Dhawan said the nonprofit model is being used so the accelerator can better work with other nonprofit partners, such as trade associations. "These are all organizations that are nonprofits and can be amazing stakeholders without ever having to be investors in the accelerator," he said. "It becomes easier to work with trade associations in their nonprofit role when we are also a nonprofit." When it's up and running, the AgriTech Accelerator would be one of a handful of ag-focused startup development programs in Iowa. Others include the Ag Startup Engine out of Iowa State University and the Rural Ventures Alliance from Iowa MicroLoan. Matthew Patane is the managing editor and co-founder of Clay & Milk. Send him an email at mpatane@clayandmilk.com.

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