NEW YORK (TheStreet) -- Will Warren Buffett not rest until he convinces everyone that solar is a good investment?
For the second time this month, Warren Buffett's energy company, MidAmerican Energy, made an acquisition of a solar energy project being developed by First Solar (FSLR).
This time, it's a 49% stake in the Agua Caliente project already sold by First Solar to NRG Energy (NRG). Earlier this month, Berkshire Hathaway (BRK.B) energy subsidiary MidAmerican acquired First Solar's Topaz project.
These are the first two solar power plant purchases by Buffett's energy company, which is already one of the largest players domestically in wind energy. And so the headlines follow about how Buffett is finally stepping up to endorse solar energy, but please do not confuse an institutional investor like Berkshire Hathaway or its utility -- in making a project finance investment to generate a guaranteed revenue stream -- with a general endorsement of solar as an investable stock sector. These are two very different things.
|Warren Buffett's energy company buys into another solar project, but solar stocks still stink.|
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