Broadwind Energy +14% on Buffett deal which signals wind power legitimacy

|About: Broadwind Energy, Inc. (BWEN)|By:, SA News Editor

Broadwind Energy (BWEN +14.4%) is set to be a major beneficiary of Siemens $1B-plus power contract with MidAmerican Energy, supplying the towers for the 448 wind turbines that will equip five wind power projects in Iowa.

The move by Warren Buffett’s utility company shows how a drop in equipment costs is making renewable energy more competitive with power from fossil fuels - a boost for suppliers including BWEN, Siemens (SI), GE and Vestas (VWDRY, VWSYF), and a threat to coal miners (KOL).

MidAmerican expects to close some coal-powered plants in 2015 as the price of wind power (FAN) continues to slide, an exec says.