As investors get more comfortable with the idea of dumping money into renewable energy projects, Warren Buffett’s MidAmerican Energy prepares for its second utility-scale solar farm financed through a bond offering.
Earlier this week, MidAmerican Energy Holdings Co. said it could complete a $700 million bond offering before the end of June to finance the Antelope Valley solar far in Southern California—a $2.74 billion project. MidAmerican acquired Antelope in January this year and construction began in late March. MidAmerican has already secured a 20-year agreement with Southern Edison California to purchase electricity from Antelope, which is scheduled to be operational in October 2015. In early 2012, MidAmerican issued $850 million in bonds (5.75%), which are due in September 2039, for the Topaz solar farm in Southern California. Again in April this year, MidAmerican issued another $250 million in bonds for Topaz at 4.875%.
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Bloomberg cited Fitch Ratings as saying that MidAmerican planned to issue “Series A” secured notes due in 2035 for Antelope. The bonds have been rated BBB- (the lowest investment grade) by Standard & Poor’s and Fitch.
By. Charles Kennedy of Oilprice.com
You just can't educate everyone.....
just look at this statement....
"..And if the FedGov decides to end the extravagant subsidies for unreliable power, how much will the investors lose? And how much will Buffet lose?..."
Does Kiteman understand that the SUN was here long before OIL was here on EARTH..? Does Kiteman even understand that OIL is just stored sun energy from millions of years ago..??
For the love of Pete.....