• 5 minutes Closing the circle around Saudi Arabia: Where did Khashoggi disappear?
  • 10 minutes Iranian Sanctions - What Are The Facts?
  • 15 minutes U.N. About Climate Change: World Must Take 'Unprecedented' Steps To Avert Worst Effects
  • 4 hours WTI @ $75.75, headed for $64 - 67
  • 4 mins Censorship has a price: Google’s CEO Defends Potential Return to China
  • 2 hours Gold price on a rise...
  • 1 hour Two Koreas: U.N. Command Wrap Up First Talks On Disarming Border
  • 9 hours Can the World Survive without Saudi Oil?
  • 8 hours Porsche Says That it ‘Enters the Electric Era With The New Taycan’
  • 2 hours Saudis Threaten Retaliation If Sanctions are Imposed
  • 22 hours Sears files Chapter 11
  • 19 hours China Is the Climate-Change Battleground
  • 3 hours $70 More Likely Than $100 - YeeeeeeHaaaaa
  • 22 hours Natural disasters and US deficit
  • 3 hours Who's Ready For The Next Contest?
  • 19 hours U.S. - Saudi Arabia: President Trump Says Saudi Arabia's King Wouldn't Survive "Two Weeks" Without U.S. Backing

Breaking News:

200 Dead In Nigeria Oil Pipeline Blast

Why Is This Little-Known Element Up Over 300%

Why Is This Little-Known Element Up Over 300%

Element ‘’V’’, better known as…

Warren Buffett's MidAmerican Looking to Invest in Renewable Energy Projects

Patrick Goodman, the Chief Financial Officer of MidAmerican Energy Holdings Co., the electric utility owned by Warren Buffett’s Berkshire Hathaway Inc., has announced that the company will looking to invest in renewable energy deals, rather than its traditional target of utility companies.

He explained that; “we believe renewables is the better investment right now,” as a result of high utility valuations.

In January of this year, MidAmerican created a new unit especially to look after its renewable energy investments, which include the $2.4 billion, 550MW Topaz Solar Farm, and the 168 MW Alta Wind VII project.

Related Article: The World's Largest Solar Plant

According to Bloomberg New Energy Finance, MidAmerican has managed to purchase 1.6GW of wind and solar energy projects since December last year, adding to the original 3.3GW of eind and geothermal assets that it already owned.

These investments mean that renewable sources now make up 31% of MidAmerican’s total energy generated; much more than the 19% that was generated back at the end of 2006.

Stefan Linder, an analyst for Bloomberg New Energy Finance in New York, suggested that other than the high cost of utilities, another factor that might be attracting Buffett to renewable energies is the tax credits that are offered to such projects.

By. Charles Kennedy of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News