When the Oracle of Omaha makes an investment, others follow. Even if it’s in a sector that’s been hammered in recent months: solar. This week Warren Buffett’s MidAmerican Energy Holdings Company acquired two massive solar panel plants — which together represent some of the largest solar assets in the world — from SunPower. The Antelope Valley Solar Projects, to be built in Southern California, are worth some $2 billion to $2.5 billion collectively.
Buffett has been bullish on solar for awhile. A year ago around this time, MidAmerican also bought the $2 billion Topaz Solar Farm, in Southern California, and a 49 percent interest in the $1.8 billion Agua Caliente solar project, in Arizona.
Following news of the deal, solar stocks are up collectively across the board. As Forbe’s Eric Savitz point out: SunPower, JA Solar, Yingli Green Energy, Suntech, and First Solar are all up. And newly public solar installer SolarCity is at its highest point in weeks, too.
Will the Buffett bump last? Though likely clean power investors are bullish on the fiscal cliff deal passing, with some continued subsidies for clean power. A good start to the first week of the new year for clean energy!