Buffett Buys 49% Stake in $1.8 Billion NRG Solar Power Plant

Buffett Buys 49% Stake in $1.8 Billion NRG Solar Power PlantWarren Buffett’s MidAmerican Energy Holdings agreed to buy a 49 percent stake in NRG Energy Inc. (NRG)’s $1.8 billion Agua Caliente solar project, the billionaire’s second investment in solar this month.

The 290-megawatt power plant is being built in Arizona by First Solar Inc. (FSLR), which expects to complete the installation of its panels by 2014, Princeton, New Jersey-based NRG said today in a statement. Terms of MidAmerican’s purchase weren’t disclosed.

Buffett’s foray into solar shows that utility-scale power plants offer good returns with little downside risk, said Paul Clegg, an analyst at Mizuho Securities USA in New York. Power from the plant, which won a $967 million loan guarantee from the U.S. Energy Department this year, will be sold to a PG&E Corp. utility under a 25-year contract at undisclosed prices.

Coho Capital 2Q20 Commentary: Podcasts, The New Talk Radio

Coho Capital LogoCoho Capital commentary for the second quarter ended June 30, 2020. Q2 2020 hedge fund letters, conferences and more Dear Partners, Coho Capital returned 46.6% during the first half of the year compared to a loss of 3.1% in the S&P 500. Many of our holdings, such as Netflix, Amazon, and Spotify, were perceived beneficiaries Read More


Full Article: http://www.bloomberg.com/news/2011-12-16/berkshire-invests-in-1-8-billion-nrg-project-as-buffett-adds-to-solar-bet.html