Warren Buffett is investing $5.6 billion dollars in the renewable energy industry in Nevada. NV Energies, the company that supplies electricity to much of Nevada, was acquired by MidAmerican Energy Holdings, a subsidiary of Berkshire Hathaway owned by Buffett.
The casinos in Las Vegas purchase almost all of their power from NV Nevada, as do 90 percent of the state’s residents. This makes it the largest utility company in the state. MidAmerican’s purchase includes one gigawatt (GW) of power production in the form of renewable energy assets. These include solar, geothermal and and wind-powered energy production facilities.
Warren Buffett betting on green energy in Nevada: Why?