Investing in Wind Energy is Gaining Popularity

Investing in Wind Energy is Gaining Popularity

Many companies and well-known entrepreneurs and businesspeople have been investing in wind energy, and renewable energy sources.
Midamericanenergy investing in energy
Recently, Warren Buffet’s company, MidAmerican Energy Company, has invested $1.9 billion in wind farms located in Iowa thanks to the extended production tax credit (which will secure Buffett’s credit through to 2035). They will be installing an additional 656 wind turbines to the already installed 1,267 turbines.
Surprisingly, even large companies like Google are investing in wind energy, through the Spinning Spur Wind Project in Oldham County, Texas. They are investing $200 million and said it “generates enough energy to power more than 60,000 homes”. This will be the 10th investment for Google in renewable energy, and the second largest investment for renewables.
“We look for projects like Spinning Spur because, in addition to creating more renewable energy and strengthening the local economy, they also make for smart investments…” Kojo Ako-Asare, Google’s senior manager of corporate finance wrote.
Investing in wind energy helps to increase the reputability of a company and acts to replace other energy sources like coal and gas which have a much bigger negative impact on the environment and human health. Additionally, the economic impact of wind turbine development is positive for local communities both financially, and assisting in creating more jobs.

Posted By Sally on May 15, 2013 | 0 Comment

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