BHE Renewables to Spend $500m in RE-Powered Site in West Virginia

Sep 14, 2022 11:28 AM ET
  • BHE Renewables will purchase greater than 2,000 acres of land in Ravenswood, as well as create it as a renewable energy microgrid-powered commercial site.
  • Precision Castparts Corp. (PCC) will be the initial firm to find on the site to develop a titanium melt manufacturing facility that will make use of 100% renewable resource to produce titanium items for the aerospace and also other industries.

West Virginia Governor Jim Justice has actually revealed that BHE Renewables, a Berkshire Hathaway Energy business, has participated in a contract with the State of West Virginia to purchase more than 2,000 acres of land in Ravenswood, and also create it as a renewable resource microgrid-powered commercial site. The firm will be making an investment of $500m in the direction of this. Precision Castparts Corporation (PCC) will be the first company to locate on the site to create a titanium melt center that will certainly utilize 100% renewable energy to produce titanium items for aerospace and also other sectors.

The West Virginia Economic Development Authority will work with BHE Renewables to bring added businesses to the site to capitalize on the prime manufacturing area and renewable energy infrastructure.

Governor Justice stated. "The collaboration we are creating with BHE Renewables and PCC is testament to West Virginia's ability to contend on the world stage and also hire first-rate companies like these to our state."

" This project shows just how purchasing clean energy can revitalize economic situations that have actually served our country's energy needs for years," BHE Renewables President and CEO Alicia Knapp stated.

PCC Metals President Steve Wright stated. "Production our items with 100% renewable resource benefits PCC and also our customers as we make every effort to lessen the effect of our operations and also intelligently make use of natural resources."

The Ravenswood project will certainly work as the structure for additional essential financial investments in West Virginia. On Saturday, Governor Justice called a Special Session of the West Virginia Legislature to consider a bill developing a "Qualified Industrial Business Expansion Development Program," also consisting of renewable resource.

The West Virginia Economic Development Authority likewise voted to license an agreement for Berkshire Hathaway Energy to buy greater than 2,000 acres of land in Ravenswood. They likewise voted to approve a high-impact financial development project designation for Timet, which is the world's largest manufacturer of titanium plane components and a subsidiary of Precision Castparts.

" Our state's growth-focused economic policies are second-to-none," West Virginia Secretary of Economic Development, Mitch Carmichael said. "West Virginia is buying clever new means for businesses to construct success around clean energy that's here to remain."

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