Tag Archives: First Solar

America’s largest college mutual fund VA529 owns Spectra Energy, a stranded investment

Parents and grandparents buy 529 college savings plans as safe investments, so VA529 chose poorly in Spectra Energy, the very risky company behind the Sabal Trail fracked methane pipeline now plowing through the Floridan Aquifer drinking water of south Alabama, Georgia, and all of Florida and under the Withlacoochee and Suwannee Rivers against growing opposition. Maybe you’d like to mention that to Mary G. Morris, the Chief Executive Officer of Virginia529 College Savings Plan, the biggest mutual fund investor in both Spectra Energy and in Enbridge, which is buying Spectra. There’s a handy VA529 contact form or you can call or write:

1-804-371-0766
Toll-Free: 1-888-567-0540
9001 Arboretum Parkway
North Chesterfield, VA 23236

Spectra is so risky it just sold itself so Enbridge would take on about $22 billion of Spectra debt. Debt especially racked up since Continue reading →

Warren Buffett thinks there’s money in solar

Cassandra Sweet wrote for the WSJ yesterday, Solar Plant Sold to Berkshire Unit,
First Solar Inc. is selling one of its large California solar farms to MidAmerican Energy Holdings Co., ending the solar-panel maker’s search for a buyer.

The sale places MidAmerican Energy, a unit of Warren Buffett’s Berkshire Hathaway Inc., in the solar-power business for the first time. MidAmerican operates fleets of wind farms and conventional power plants.

The companies didn’t disclose terms of the deal Wednesday, but said the Topaz solar-power plant, in San Luis Obispo County, is worth more than $2 billion.

That’s more evidence there is private financing available for solar power.

-jsq

PS: Owed to Harry DeLano.