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Solar and wind energy investment by Warren Buffett

Buffett’s MidAmerican Starts Renewable-Energy Business, Fox Business By Cassandra Sweet  January 24, 2012 The MidAmerican Energy unit of Warren Buffett’s Berkshire Hathaway Inc. (BRKA, BRKB) said Tuesday it has started a new company to oversee a growing stable of solar, wind and other renewable-energy projects.
MidAmerican Energy Holdings Co., of Des Moines, said it has placed solar and wind farms, geothermal power plants and its interest in a small hydroelectric project into a new company called MidAmerican Renewables LLC.

MidAmerican’s president and chief executive, Greg Abel, said the company expects U.S. demand for renewable energy to continue growing and that the company wants “to be a leader in this area.”

On Monday, MidAmerican said it plans to buy an 81-megawatt wind farm in Illinois from Invenergy Wind LLC as part of the company’s growing wholesale renewable-energy business. ……. MidAmerican Renewables said it is considering acquiring more renewable-energy projects that would generate electricity for the wholesale power market to meet growing demand for clean energy.
“We’ll be looking for opportunities to grow this business,” said Tina Potthoff, a spokeswoman for MidAmerican. “We think there’s a growing desire by utilities and other companies to green up their business.”
http://www.foxbusiness.com/news/2012/01/24/buffetts-midamerican-starts-renewable-energy-business/#ixzz1kVVVLdW0

January 25, 2012 - Posted by Christina Macpherson | business and costs, renewable, USA