Buffett’s MidAmerican starts renewable energy unit
The MidAmerican Energy unit of Warren Buffett’s Berkshire Hathaway said Tuesday that it formed a new business to support a planned move into the unregulated renewables market.
Named MidAmerican Renewables, the new business will oversee wind, geothermal, solar and hydro projects that produce energy to be sold in the renewables market.
Greg Abel, chairman, president and CEO of MidAmerican Energy Holdings Company, said the new business welcomes opportunities for growth.
“MidAmerican Renewables is open for business,” said Abel. “We look forward to expanding our wind, geothermal, solar and hydro portfolio, so we can offer energy in the renewables market.
“We believe the need for renewable energy will continue to grow, and we are excited to be a leader in this area,” he added.
MidAmerican Renewables will be based in Des Moines, Iowa, and will encompass MidAmerican Wind; MidAmerican Geothermal; MidAmerican Solar; MidAmerican Hydro; and project development and commercial management.
Bill Fehrman, president and CEO of MidAmerican Energy, has been named president of MidAmerican Renewables. Fehrman’s current role will remain unchanged.
MidAmerican Energy is a regulated utility, providing electric and natural gas service to customers in Iowa, Illinois, Nebraska and South Dakota.
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