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MidAmerican buysout TransAlta

(MidAmerican Renewables buyout of Transalta Interests)…MidAmerican says they have received all the necessary regulatory approvals.

In an announcement Thursday morning, they said the approvals allow MidAmerican to complete its transaction with TransAlta to acquire all interests in CalEnergy, including the Imperial County Geothermal facilities. MidAmerican has announced they 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 regional for another 30 years. They say those efforts are already moving ahead. Bill Fehrman, president of CalEnergy and MidAmerican says with the buyout CalEnergy fully joins the Berkshire Hathaway Energy family of businesses and will continue to focus on growing their business and gaining operating efficiencies.