What is MidAmerican Renewables?
MidAmerican Renewables, LLC, created in 2012, is a subsidiary of MidAmerican Energy Holdings Company, which changed its name from MidAmerican Energy Holdings Company to Berkshire Hathaway Energy in April 2014.
Greg Abel, chairman, president and CEO of then MidAmerican Energy Holdings Company, who pocketed approximately $41 million last year in compensation, said that, “Our new name reflects the benefits we gain from Berkshire Hathaway’s ownership, particularly our ability to reinvest in our businesses and take a long-term view of our customers needs, which have helped us become a leader in the global energy industry.” Read the full press release here. On a side note, numerous investors and analysts believe Abel, who has taken on a greater public role at Berkshire, is a top candidate to eventually replace Buffett as Berkshire Hathaway’s chief executive.
It appears that MidAmerican Renewables has also been rebranded to BHE Renewables.
What does MidAmerican Renewables do?
MidAmerican Renewables is comprised of 4 sub-units: MidAmerican Solar, MidAmerican Wind, MidAmerican Geothermal, MidAmerican Hydro.
MidAmerican Renewables develops solar, wind, hydro & geothermal projects that produce energy for both the wholesale market and for customers under long-term power agreements.
MidAmerican Wind manages three unregulated wind-powered generation projects, generating a capacity of nearly 400 megawatts.
MidAmerican Hydro, vis-à-vis Hawaii’s Wailuku hydroelectric facility, has the capacity to produce 10 megawatts of electricity.
MidAmerican Geothermal owns 10 geothermal facilities in California’s Imperial Valley. The combined capacity at Imperial Valley is 327 net megawatts (nominal).
MidAmerican Solar is emerging as an industry leader in solar energy generation and continues to develop its portfolio with noncarbon resources.
Topaz Power Plant
In 2012, MidAmerican Renewables announced its acquisition of the Topaz Solar Farm from First Solar, Inc., a 550-megawatt photovoltaic power plant in California that generates enough electricity for almost 200,000 homes. Construction on the plant commenced in November 2011 and ended in November 2014.