DES MOINES, Iowa, April 30 – MidAmerican Energy Holdings Company announced in late April it had changed its name to Berkshire Hathaway Energy.
This new name more accurately reflects our growing, diversified mix of businesses and the customers they serve. It also reinforces the company’s strategy to own and operate a portfolio of high-quality assets, grow and diversify through a disciplined acquisition strategy, and build and maintain strong stakeholder relationships. The businesses of Berkshire Hathaway Energy will continue to be managed locally, and the names and operations of our businesses will not be affected.
“Our new name reflects the benefits we gain from Berkshire Hathaway’s ownership, particularly our ability to reinvest in our businesses and take a long-term view of our customers’ needs, which have helped us become a leader in the global energy industry,” said Greg Abel, chairman, president and CEO. “Our vision remains unchanged – to be the best energy company in serving our customers, while delivering sustainable energy solutions.”
Pictured: Board chair Warren Buffett…ready to spend billions more
In Central California the company owns Topaz Solar Farms is a 550-megawatt solar power plant in San Luis Obispo County, California. Construction on the project began in November 2011 and is expected to run through 2015. It is among the world’s largest solar farms currently under construction and once complete will have more than eight million modules installed. The project is estimated to infuse $417 million into the local economy and create roughly 400 construction jobs over a three-year period.
This week Berkshire Hathaway chairman Warren Buffet in an Las Vegas news conference said “We’ve poured billions and billions and billions of dollars in retained earnings, and several billion of additional equity,” into the energy business, Buffett, 83, said today at the Edison Electric Institute’s annual convention in Las Vegas. “And we’re going to keep doing that as far as the eye can see.” A news account said” the business has committed $15 billion to renewable energy projects, like a solar farm in California that will be one of the world’s largest when it’s completed in 2015. Buffett said today that Berkshire could invest an additional $15 billion on such projects, aided by tax benefits as the U.S. strives to reduce carbon-dioxide emissions.”
About Berkshire Hathaway Energy
Berkshire Hathaway Energy owns a portfolio of locally managed businesses that share a vision for the energy future, make sustainable investments to achieve that vision, and had $70 billion of assets as of Dec. 31, 2013. These businesses deliver safe, reliable service each day to more than 8.4 million customers and end-users around the world and consistently rank high among energy companies in customer satisfaction. Berkshire Hathaway Energy is headquartered in Des Moines, Iowa, U.S.A. Learn more and see a complete list of our businesses at www.berkshirehathawayenergyco.com.
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