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Google Signs Renewable Energy Deal With MidAmerican Energy

Google Inc. (GOOGL,GOOG) has signed a renewable energy deal with MidAmerican Energy Holdings Co., the two companies said Tuesday. Under the deal, MidAmerican Energy, a unit of billionaire Warren Buffett's Berkshire Hathaway Inc. (BRK-B,BRK-A, BRKa) will supply up to 407 megawatts of wind-sourced energy to Google's data center in Council Bluffs, Iowa.

The deal with MidAmerican represents Google's seventh and largest renewable energy purchase to date, bringing the total amount of renewable energy that the company has contracted for to over one gigawatt, or 1,000 megawatts.

The wind power for the Iowa data center will come from several wind projects that are part of MidAmerican Energy's Wind VIII program, an initiative under which that company will bring 1,050 megawatts of new Iowa wind power online by the end of 2015.

Google noted that the deal will fully supply the first phase of its facilities in Council Bluffs with 100 percent renewable wind energy, bundled with and tracked by renewable energy certificates. The deal will also allow additional phases to be supplied with wind-sourced energy as Google grows in Iowa.

Bill Fehrman, president and CEO of MidAmerican Energy said, "Google's significant and growing presence within our service area, along with its long and demonstrated commitment to renewable energy, have been important factors in MidAmerican Energy's pursuit of renewable power. In addition to increasing Google's access to renewable energy, this agreement also reduces energy costs for our customers."

Des Moines, Iowa-based MidAmerican Energy provides electric service to 739,000 customers and natural gas service to 719,000 customers in Iowa, Illinois, Nebraska and South Dakota.

GOOGL closed Tuesday's regular trading session at $545.50, up $6.13 or 1.14 percent on a volume of 2.33 million shares. However, in after-hours, the stock declined $0.44 or 0.08 percent to $545.06.

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