• 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
  • 5 mins Science: Only correct if it fits the popular narrative
  • 4 hours Crazy Stories From Round The World
  • 1 day EU has already lost the Trump vs. EU Trade War
  • 12 hours What are the odds of 4 U.S. politicians all having children working for Ukraine Gas Companies?
  • 1 day China's Renewables Boom Hits the Wall
  • 19 hours Do The World's Energy Policies Make Sense?
  • 3 hours Iran Burning: Shock Gas Price Hike Triggers Violent Protests After Subsidy Cuts
  • 1 day Forget out-of-date 'dirty oil' smear, Alberta moving to be world's cleanest oil industry
  • 21 hours Impeachment Nonsense
  • 3 hours Atty General Barr likely subpeona so called whistleblower and "leaker" Eric Ciaramella
  • 1 day Water, Trump, and Israel’s National Security
  • 2 days Tesla Launches Faster Third Generation Supercharger
  • 12 hours Who writes this stuff? "Crude Prices Swing Between Gains, Losses"

Breaking News:

Russia Plans To Boost Crude Oil Exports

OPEC Output Soars As Venezuela Bounces Back From The Brink

OPEC Output Soars As Venezuela Bounces Back From The Brink

Despite Saudi overcompliance and political…

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
Download on the App Store Get it on Google Play