• 3 minutes Nucelar Deal Is Dead? Iran Distances Itself Further From ND, Alarming Russia And France
  • 5 minutes Don Jr. Tweets name Ukraine Whistleblower, Eric Ciaramella. Worked for CIA during Obama Administration, Hold over to Trump National Security Counsel under Gen McCallister, more . . . .
  • 9 minutes Shale pioneer Chesepeak will file bankruptcy soon. FINALLY ! The consolidation begins
  • 12 minutes China's Blueprint For Global Power
  • 2 hours Who writes this stuff? "Crude Prices Swing Between Gains, Losses"
  • 2 hours Pioneer's Sheffield in Doghouse. Oil upset his bragging about Shale hurt prices. Now on campaign to lower expectations, prop up price.
  • 10 hours Climate Change Consensus Shifts in Wind, But Gas Is Still the Right Move
  • 12 hours World oil demand will keep growing until 2030, climate-damaging emissions longer, says IEA
  • 12 mins EU has already lost the Trump vs. EU Trade War
  • 5 hours Iran Finds New Oil Field With Over 50 Billion Barrels: Rouhani
  • 3 hours Atty General Barr likely subpeona so called whistleblower and "leaker" Eric Ciaramella
  • 2 hours Joe Biden, his son Hunter Biden, Ukraine Oil & Gas exploration company Burisma, and 2020 U.S. election shenanigans
  • 2 hours Trump On Farage's Radio Show ...
  • 1 hour Does .001 of Atmosphere Control Earth's Climate?!
  • 7 hours Iran's Master Plan?
  • 13 mins China's Renewables Boom Hits the Wall
  • 5 hours Saudi Aramco IPO Will Not Save Kingdom

Breaking News:

Oil Rebounds On Surprise Crude Draw

Alt Text

Renewable Energy's Inconvenient Truth

While the renewable energy push…

Alt Text

Another Energy Tech Breakthrough Involving Jellyfish

The desperate search for clean…

Alt Text

Five Energy Innovations To Transform The World

New technology has changed every…

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