• 5 minutes 'No - Deal Brexit' vs 'Operation Fear' Globalist Pushback ... Impact to World Economies and Oil
  • 8 minutes China has *Already* Lost the Trade War. Meantime, the U.S. Might Sanction China’s Largest Oil Company
  • 12 minutes Will Uncle Sam Step Up and Cut Production
  • 44 mins Maybe 8 to 10 "good" years left in oil industry * UAE model for Economic Deversification * Others spent oil billions on funding terrorism, wars, suppressing dissidents * Too late now
  • 6 hours Russia Accuses U.S. Of Stoking Tensions With Missile Test
  • 6 hours OPEC will consider all options. What options do they have ?
  • 1 hour Recession Jitters Are Rising. Is There Reason To Worry?
  • 5 hours CLIMATE PANIC! ELEVENTY!!! "250,000 people die a year due to the climate crisis"
  • 2 hours TRUMP'S FORMER 'CHRISTIAN LIAISON' SAYS DEEPWATER HORIZON DISASTER WAS GOD'S PUNISHMENT FOR OBAMA ISRAEL DIVISION
  • 10 hours With Global Warming Greenland is Prime Real Estate
  • 5 hours What to tell my students
  • 34 mins NATGAS, LNG, Technology, benefits etc , cleaner global energy fuel
  • 20 hours Domino Effect: Rashida Tlaib Rejects Israel's Offer For 'Humanitarian' Visit To West Bank
  • 17 hours In The Bright Of New Administration Rules: Immigrants as Economic Contributors
  • 13 hours Get First Access To The Oilprice App!
  • 3 hours Flaring is at Record Highs in Texas
Alt Text

A Booming Niche In Energy’s Hottest Market

The battery recycling market is…

Alt Text

The Biggest Hurdle In The Race To 100% Renewable Energy

Though tremendous progress has been…

Alt Text

A Turning Point For U.S. Power Generation

Renewable energy has reached a…

Jen Alic

Jen Alic

 

More Info

Premium Content

Warren Buffett Expands Renewables Holdings

With tax credits expiring on 31 December, Warren Buffett’s MidAmerican Energy Holding’s Co. has managed to complete construction of two wind farms in California—adding another major project to its hungry operational portfolio.

The company—owned by Buffett’s Berkshire Hathaway Inc. (NYSE:BRK.A)—completed the two Pinyon Pines wind farms, with a total capacity of 300 megawatts, and brought them on line just before the last day of the year.

The wind farms will supply Southern California Edison (a subsidiary of Edison International, NYSE:EIX) with electricity under a long-term contract.

Thanks to the now-expired tax credit, wind has become the largest source of new energy capacity in the US for 2012.

Related Article: Replacing Fossil Fuels with Renewables - Part 1

Buffett has embraced wind wholeheartedly, and his company now boasts more than 1.2 gigawatts of energy assets either currently operating or under construction.

If you’re undecided about renewable energy—trust Buffett, everyone else does and his word seems to be golden these days among investors.

And Buffett’s wind investments are definitely on a roll. Earlier in December, MidAmerican Wind, a subsidiary of MidAmerican Renewables, finished another wind farm in Illinois after acquiring the project earlier in the year from Invenergy.

MidAmerican Energy Holdings’ seven main businesses earned $11.2 billion in revenues in 2011 and the conglomerate’s renewables holdings are impressive. MidAmerican Energy owns 2.3GW of wind and MidAmerican Renewables owns an additional 318MW.

Related Article: The Renewable Energy Illusion

In total, MidAmerican Energy Holdings has more than 1,830 megawatts of owned wind, geothermal, solar and hydro assets.

The first days of January 2013 also saw MidAmerican Solar—another subsidiary of MidAmerican Renewables—acquire a 579-megawatt solar project in California from SunPower Corp (NASD:SPWR). This two-project combination (The Antelope Valley Solar Projects) represents the largest solar photovoltaic power development project in the world. It is expected to offset more than 775,000 tons of carbon dioxide emissions annually.

By. Jen Alic of Oilprice.com




Download The Free Oilprice App Today

Back to homepage


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play