When Warren speaks everyone listens. So for this Thanksgiving buy a little stock in a renewable energy company and enjoy…
Here’s What Warren Buffett Thinks About Renewable Energy
November 27, 2013
“Rule No. 1: Never Lose Money. Rule No. 2: Never Forget Rule No. 1.”
Warren Buffett is famous for both his legendary investing acumen, and his simple, straightforward investing advice. For years, alternative energy has been viewed as non-competitive with traditional energy production from coal and other fossil fuels, making them money-losers for most investors.
Buffett’s own Berkshire Hathaway (NYSE: BRK-B ) subsidiary MidAmerican Energy is heavily investing in alternative energy sources, including both wind and solar. And considering that MidAmerican produces more than $1.2 billion in annual “ammo” for Buffett’s “elephant gun,” the story on renewables is clearly changing.
Should investors follow the Oracle into “green energy” to make more greenbacks? Let’s take a look.
MidAmerican has been investing in wind energy for a decade, and is easily the largest producer of wind energy in North America; wind actually accounts for more than 30% of the company’s total energy generation capacity. Current projects will move the total to almost 40%.
MidAmerican has relied on both General Electric (NYSE: GE ) and Vestas (NASDAQOTH: VWDRY ) for wind turbines for different projects. A large project in California, which deployed more than 300 megawatts of power generating capacity, featured 100 Vestas wind turbines. GE’s turbines, on the other hand, are the most commonly used in MidAmerican’s fleet
Go there and read. More next week. When it is my birthday, YAA.