USA, Nevada:

MidAmerican Acquisition of NV Energy Could Give Huge Boost to Renewable Energy in Nevada (Reno Gazette)

Warren Buffett (Courtesy AP)

NV Energy will become part of billionaire Warren Buffett’s business empire next year under a $10 billion acquisition agreement announced on Wednesday.

Elliott Parker, economist at the University of Nevada, Reno, said MidAmerican brings vast resources, especially for the growing renewable-energy market, to a state with plentiful geothermal and solar potential.

“What NV Energy gets is deep pockets,” Parker said. “To the extent they want to invest in alternative energies, this certainly gives them access to capital markets to pay for it.”

In addition, Parker said, the deal will likely give NV Energy better bargaining power before the state Public Utilities Commission. But he expects few, if any, advantages for the company’s ratepayers under MidAmerican control.

“I don’t see any changes in how NV Energy will do business,” he said.

Michael Yackira, CEO of NV Energy is invited to speak at the Opening Session of the 37th GRC Annual Meeting at the MGM Grand, Las Vegas, Sept. 29-Oct. 2.

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