September 29, 2024
Berkshire Hathaway Banking on Midwest Solar?
Warren Buffett’s Berkshire Hathaway Energy disclosed that it recently acquired a site for solar generation development in MISO’s central region.

By Chris O’Malley

Warren Buffett’s energy businesses have been buying and building wind generation facilities in the Midwest and Great Plains for years.

berkshire hathawayBut the Oracle of Omaha now has his eyes on bringing solar power to the central U.S., according to a recent filing with the Federal Energy Regulatory Commission.

Buffett’s Berkshire Hathaway Energy disclosed that it recently acquired a site for solar generation development in MISO’s central region. The “site” consists of 74 individual “locations” not to exceed 1 MW each, according to the company’s quarterly property acquisition report. (MidAmerican Energy Holdings changed its name to Berkshire Hathaway Energy in April 2014.)

The company did not disclose exactly where the site is located. The company is not ready to make an announcement on the project, spokesman David Caris said.

MISO is a new locale for the company’s solar portfolio.

Subsidiary BHE Renewables has more than 1,200 MW in existing solar generation, primarily in California and Arizona, including its 550-MW Topaz Solar Farms in San Luis Obispo County, Calif., which became fully operational in March. Berkshire Hathaway companies also operate 579 MW of solar generation in Los Angeles and Kern Counties and own 49% of a 290-MW solar generating site in Yuma County, Ariz.

Environmental Regulations Bring Opportunities

Berkshire Hathaway’s planned solar expansion in MISO’s coal-dependent central region — which includes Indiana, Michigan, Wisconsin and parts of Illinois — appears designed to take advantage of increased demand for renewables as a result of federal environmental regulations.

The company has also continued its investments in wind. In October, BHE announced its plans for a 160-MW wind farm in Adams County, Iowa, that could cost up to $280 million.

Late last month, the company filed plans with the Iowa Utilities Board to construct up to 552 MW of additional wind generation in the state at a cost of $900 million. The company said it would announce the location and other details later.

On April 30, BHE announced plans to build a 400-MW wind farm in Holt County, Neb., that would be the largest wind project in the state. The recent FERC filing said that Berkshire Hathaway acquired a site in SPP territory for up to 400 MW of wind-powered generation development. It wasn’t immediately clear whether it’s the same site.

BHE owns and operates more than 3,400 MW of wind, solar, geothermal and hydro generation.

At the Edison Electric Institute’s annual convention last June, Buffett said the company, which has already spent $15 billion on renewables, was prepared to double that investment.

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