In a sign of confidence in the future of the American renewable energy market, one of the country’s top investors, Warren Buffet, is betting big on solar.
Buffet’s power company, MidAmerican Energy Holdings, recently announced that it will acquire a 49% stake in a 290MW Arizona solar project, part of the company’s move to “aggressively pursue” expansion in the renewable energy sector.
Word of the NRG project followed an announcement a few weeks ago that MidAmerican plans to buy a huge, 550 MW solar PV plant planned for California – the Topaz project.
Greg Abel, chairman, president and CEO of MidAmerican Energy Holdings Company had this to say:
“As energy needs continue to increase, the Topaz project will allow MidAmerican to produce renewable energy for thousands of Californians. This project also demonstrates that solar energy is a commercially viable technology without the support of governmental loan guarantees and reflects the type of solar and other renewable generation that MidAmerican will continue to seek to add to its unregulated portfolio.”
Solar is indeed commercially viable. And we need the transmission grid that is designed to support it. There is vast solar potential, from California to New Jersey, Wisconsin to Hawaii, and in many states in between. To unlock that potential and support projects like the Topaz solar plant, we have to connect them to consumers.
Read more about how transmission helps grow domestic clean energy supplies.