Renewables get a Buffett boost

A couple of big solar moves by famed investor Warren Buffett have led a flurry of end-of-year renewable power project deals, and provided a lift for the sector in a difficult last quarter.

A difficult last quarter of 2011 for the renewable power sector worldwide, with sector share prices under strong pressure and banks becoming wary about extending long-term finance in some countries, drew towards a close last week with some encouraging project transactions.

Highest-profile among them was a big solar commitment by famed investor Warren Buffett. His MidAmerican Energy Holdings agreed to buy a 49 per cent stake in NRG Energy’s $US1.8 billion Agua Caliente solar project in Arizona.

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