MidAmerican Energy, owned by Warren Buffett, said this week that it will set up a new unregulated subsidiary to invest in wind power, solar power, geothermal energy and hydro projects.
The electric utility owned by one of America's best-known investors, a man noted for his thoughtful view of investment fundamentals, is planning a systematic organizational push into wind power and other renewable forms of energy.
MidAmerican Energy, owned by Warren Buffett (known as the "Sage of Omaha" for his investment prowess), said this week that it will set up a new unregulated subsidiary to invest in wind power, solar energy, geothermal energy and hydro projects.
Of particular note were the comments of two senior MidAmerican officials regarding the new subsidiary. Greg Abel, the utility's chairman, president and CEO, said, "We look forward to expanding our wind farm, geothermal energy, solar energy and hydro portfolio. We believe the need for renewable energy will continue to grow." Jonathan Weisgall, MidAmerican's Vice President for Federal Policy, added, "This is a vote for renewable energy. It is not a bet."