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Buffett's MidAmerican Group Forms Renewable Energy Company

MidAmerican Energy, part of Warren Buffett's Berkshire Hathaway Inc., has created a new company to oversee its green energy interests.

The new company, called MidAmerican Renewables LLC, will be based in Des Moines and will include limited liability companies in the hydro, wind, geothermal and solar sectors. MidAmerican Energy — an electric and natural gas utility that serves parts of Iowa, Illinois, Nebraska and South Dakota — will remain unchanged.

Beill Fehrman, president and chief executive officer of MidAmerican Energy, has been named president of MidAmerican Renewables, although he will retain his duties at MidAmerican Energy.

MidAmerican owns 50 percent of the 10-MW Wailuku hydroelectric plant in Hawaii. The power generated is sold to Hawaii Electric Light Company Inc. under a long-term power purchase agreement.

 

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