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Buffett Power Unit Targets Renewables for Acquisitions

MidAmerican Energy Holdings Co., the power provider owned by Warren Buffett’s Berkshire Hathaway Inc., is targeting renewable energy deals amid high utility valuations, Chief Financial Officer Patrick Goodman said.

“We believe renewables is the better investment right now” because utilities are too expensive, MidAmerican’s Goodman said in an interview today at an Edison Electric Institute conference in Phoenix. “As a cash buyer, we will be looking at utilities if pricing comes in a bit.”