Warren Buffett, Wind Investor?

September 21, 2009

Mid-American Energy, a holding of Berkshire Hathaway Inc. (NYSE: BRK-A) and a holding of Warren Buffett, is about to get into the U.K. offshore wind power business if the reports from the weekend in the U.K’s Times Online are accurate. The new plan is meant to go off in phases off the coast of Kent in the U.K. and this round is said to be approximately 1 billion pounds. That is $1.61 billion in today’s dollars and is actually only about one-twelfth of the total estimated size of the auctions that will be made in the coming months and years.

This capital intensive plan is also said to require hundreds of miles of new undersea cables needed in order to bring the electric power from the project on to the U.K.’s power grid. Click here 

Jan Hýsek * Top 5