BUFFETT WANTS LOTS MORE NEW ENERGY
Buffett Ready to Double $15 Billion Solar, Wind Bet
Noah Buhayar and Jim Polson, June 10, 2014 (Bloomberg BusinessWeek)
“…[Warren Buffett said his Berkshire Hathaway Inc.’s Berkshire Hathaway Energy has another $15 billion ready to add to the $15 billion it has already invested in renewable energy which] speaks to the kinds of investments that are increasingly appealing to the billionaire…While utilities don’t offer the returns of businesses that Buffett, 83, favored earlier in his career, he has said he likes the industry because it provides opportunities for reinvestment and further acquisitions…Berkshire Hathaway Energy operates electric grids in the U.K., natural gas pipelines that stretch from the Great Lakes to Texas and electric utilities in states including Oregon and Nevada. Its renewable investments include wind farms in Iowa and Wyoming, as well as solar farms in California and Arizona…Unlike other utility-holding companies, Berkshire Hathaway Energy retains all of its earnings…[and] could reinvest about $30 billion into its business in the next decade…While spending $30 billion on renewable-energy projects would have been unheard of two decades ago at Berkshire, Buffett is signaling that the returns are attractive…” click here for more
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