"We have been able to invest in renewables while at the same time keeping electric rates affordable for the long term," CEO Adam Wright said in a statement, noting that the utility will not ask for a rate increase to pay for the project.
That investment is possible due to historically low prices for wind energy in the Great Plains, and MidAmerican is far from the only utility to notice. Last year, Xcel Energy CEO Ben Fowke told Utility Dive his company can often build wind projects for less than it would cost to provide fuel to its legacy plants.
"We're looking at [prices] in the low teens to low 20s [in dollars/MWh] — not starting prices, but levelized across the 25-year life of the project," he said. "That beats gas, even at today’s prices."