Warren Buffett, the US investment tycoon, has once again shown his commitment to the US renewable energy market by announcing his plans to buy two huge Californian wind farms.
MidAmerican Energy Holdings, which is owned by Buffet’s Berkshire Hathaway investment company, will purchase two phases of the wind farm project being constructed in the Tehachapi Mountains by Terra-Gen Power.
MidAmerican Energy Holdings announced yesterday that it has agreed to buy the two phases for an undisclosed fee.
The Alta Wind VII has a capacity of 168MW, and the Alta Wind IX has a capacity of 132MW; they boost MidAmerican Renewable’s total renewable energy portfolio to over 1.2GW.
Southern California Edison has already signed a purchase power agreement which means they will purchase all the electricity produced from the wind farms; enough, it is believed, to supply around 80,000 homes each year.
By. Joao Peixe of Oilprice.com The No.1 source for Oil Prices