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Buffett Keeps Building His Energy Unit as Far as the Eye Can See

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Berkshire After Buffett

A few months after buying Nevada’s largest electric utility, Warren Buffett sat on stage at an industry conference in Las Vegas and told the crowd he was planning to expand Berkshire Hathaway Inc.’s energy business “as far as the eye can see.

That was three years ago. On Friday, he delivered big-time on the pledge by announcing a $9 billion all-cash offer to buy a reorganized Energy Future Holdings Corp., the parent company of Oncor Electric Delivery Co., Texas’s largest electricity-transmission operator. That follows massive investments in wind power and other infrastructure in the U.S. and Canada over the past several years.