MidAmerican timeline

The history of Warren Buffett's MidAmerican Energy

1995 MidAmerican Energy is formed by the merger of Iowa-Illinois Gas and Electric with Midwest Resources. The new company, based in Des Moines, Iowa, serves four states.

1998 Geothermal power producer CalEnergy acquires MidAmerican Energy.

1999 CalEnergy is reorganised as MidAmerican Energy Holdings Company (MEHC).

2000 An investor group purchases MEHC in a $9bn deal, with billionaire Warren Buffett’s Berkshire Hathaway taking a 75% share. MEHC is taken private with publicly traded fixed-income securities.

2005 MidAmerican Energy installs 310.5MW Iowa wind project plus 50MW expansion.

2006 MEHC pays Scottish Power $5.1bn (and Log in to read complete article.

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