Silver investors are likely familiar with Warren Buffet’s foray into physical silver, and how he was forced out of his 130 million ounce silver position in 2006- roughly the same time-frame as the launch of the silver ETF SLV.
Could buffet be attempting to re-enter the silver market, under the cover of solar energy?
MidAmerican Energy Holdings, a subsidiary of Berkshire Hathaway has announced a deal with SunPower to build two solar projects in California’s Antelope Valley totaling $2.5 billion- the largest solar project in history.
Perhaps our friend Blythe should take notice that production is scheduled to begin Q1 2013.
Warren Buffett to build world’s largest solar energy project
Billionaire US investor Warren Buffett is taking a $2.5bn (£1.5bn) bet on solar energy, acquiring what is set to become the largest photovoltaic development in the world.
MidAmerican Energy Holdings, a subsidiary of Mr Buffett’s Berkshire Hathaway investment company, has struck a deal with SunPower to acquire and build two projects in California’s Antelope Valley.
The deal, which will see MidAmerican pay between $2bn to $2.5bn, marks the third time in little over a year that Mr Buffett has ploughed cash into solar energy.
He last year created a unit within Mid American to support an increasing number of solar and wind investments.
Work on the projects will begin within the next few months and construction is expected to be completed by the end of 2015…
The two projects acquired by MidAmerican will have a combined capacity of 579 megawatts (MW), creating the largest solar photovoltaic power development in the world.