Investment: BHE Renewables plant is reason to celebrate
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It might not be quite a rocketship ride, but news that BHE Renewables plans to build a facility in Ravenswood certainly sent some folks over the moon this week.
According to Berkshire Hathaway Energy, the company has bought more than 2,000 acres at the former Century Aluminum site, and will build a titanium melt facility -- powered by solar energy. In fact, BHE says it is building a first-of-its kind renewable energy microgrid-powered industrial site.
"As a Berkshire Hathaway Energy company, I would tell you we are uniquely qualified to deliver this project and we're excited to be partnering with Precision Castparts and with the State of West Virginia to deliver this project and truly revitalize Jackson County," said Alicia Knapp, president and CEO of BHE Renewables.
It appears as though Berkshire Hathaway believes in the Ohio Valley and understands it is worth the effort to truly invest in its rebirth. Parts made in Ravenswood will feed the Precision Castparts Timet Facility, in Jefferson County, Ohio.
"This facility will be built and basically be the primary metal melting facility that will ultimately feed that facility in Toronto, Ohio," said Steven Wright, president of PCC. "We're really excited to be able to start with this investment and power it with renewable energy."
It is genuinely worth celebrating that a company the Ohio Valley already knows will follow up on its development promises is now looking to do more -- an expected 200 jobs to start and as many as 1,000 when it is at full operation -- by bringing new life to a plant that helped support our region's economy for more than 50 years. And BHE is planning to do it with renewable energy. If one of Warren Buffett's companies believes that is possible in West Virginia, there are few who would doubt it.
And if the Oracle of Omaha has a hunch it is possible to bring to West Virginia and Eastern Ohio the kinds of industries that are familiar but new -- without relying on fossil fuels -- it is a wonderful sign the expansion and diversification of our economy and energy portfolio is not just within reach, well under way.