Well done Warren. Perhaps he believes in global warming.
Originally posted on Gigaom:
When the Oracle of Omaha makes an investment, others follow. Even if it’s in a sector that’s been hammered in recent months: solar. This week Warren Buffett’s MidAmerican Energy Holdings Company acquired two massive solar panel plants — which together represent some of the largest solar assets in the world — from SunPower. The Antelope Valley Solar Projects, to be built in Southern California, are worth some $2 billion to $2.5 billion collectively.
Buffett has been bullish on solar for awhile. A year ago around this time, MidAmerican also bought the $2 billion Topaz Solar Farm, in Southern California, and a 49 percent interest in the $1.8 billion Agua Caliente solar project, in Arizona.
Following news of the deal, solar stocks are up collectively across the board. As Forbe’s Eric Savitz point out: SunPower, JA Solar, Yingli Green Energy, Suntech, and First Solar are all up. And newly public solar installer SolarCity is at its highest point in weeks, too.