MidAmerican Renewables Completes Buyout of TransAlta Interests in Geothermal Facilities

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Cal Energy Geothermal Plant1IMPERIAL COUNTY – Today, MidAmerican Renewables announced it has received all necessary regulatory approvals to complete its transaction with TransAlta to acquire all interests in CalEnergy, including the Imperial County geothermal facilities.

“We appreciate the achievements we have been able to accomplish with TransAlta by our side the past several years,” said Bill Fehrman, president of CalEnergy and MidAmerican Renewables.

“Now as we look to the future, CalEnergy fully joins the Berkshire Hathaway Energy family of businesses and will continue to focus on growing our business and gaining operating efficiencies.”

The company announced earlier that it will invest more than $1 billion in capital improvements in the next several years that will sustain the operating life of all 10 power plants in the Imperial County region for another 30 years, and those efforts have already started moving ahead.

“Geothermal generation is ideally suited to meet the ongoing renewable energy needs of California and neighboring states,” said Fehrman.

“CalEnergy remains committed to economic development in Imperial County and the Salton Sea Known Geothermal Resource Area. It is important to the future of our community and environment, and we will continue doing our part to facilitate growth of the renewable energy economy for many years to come.”