Warren Buffett’s renewable energy investment to $30bn
American business magnate and philanthropist is set to invest US$15 billion (£8.9 billion) in solar and wind energy projects in the US. Buffett, the world’s third wealthiest man, was speaking at a Las Vegas conference this week, and the investments will made through his Berkshire Hathaway holding company
Warren Buffett, the American business magnate and philanthropist, is set to invest US$15 billion (£8.9 billion) in solar and wind energy projects in the US.
Buffett, the world’s third wealthiest man, was speaking at a Las Vegas conference this week, and the investments will made through his Berkshire Hathaway holding company.
Buffett has remained one of the world’s leading investors in renewable energy and has bankrolled a suite of major projects in the solar and wind power sectors.
The Nebraska-based Berkshire Hathaway is the fifth-largest in the world by market value.
Buffett has championed the renewables market and is renowned for promoting its potential, with the predictability of reinvestment and large growth a key attribute.
He bought a vast California-based solar farm project from First Solar in 2011 and other investments include the acquisition of an Iowa energy holding company also in 2011.
His energy portfolio now includes power grids in the UK, natural gas pipelines that run across the US and wind farms in Iowa, Wyoming, California and Arizona.
Buffett’s continued support for renewables comes after President Barack Obama declared tighter emissions targets for coal power companies and the goal of cutting emissions by 30 per cent by 2030.
The Environmental Protection Agency (EPA) has estimated that this could bring net climate and health benefits of up to US$82 billion (£48 billion).