Earlier this year, Midwest Renewables of Alden, a renewable energy company, began planning a $65 million ethanol plant west of Iowa’s industrial park. Now the company intends to bring a $200 million wind farm to southern Franklin County in north central Iowa.
Midwest Renewables joined Whitney & Co., a private equity firm from Connecticut, to build the ethanol plant. Per year, the plant is expected to consume as many as 14 million bushels of corn to produce 40 million gal of ethanol, and produce 127,000 tons of dried distiller grain. It should be fully functioning by the end of 2004 and could employ 35 people.
The two companies are also working together on the wind farm, which could have as many as 135 turbines, span an area 10 mi to 15 mi wide, and produce 200MW of power. Construction on the $200 million project could begin in 2004, provided a Midwest utility company agrees to buy the power.