(BRK.A), (BRK.B)
New energy company BYD has signed with Biosar for a 75MW PV project in Australia. The project cost is roughly $30 million USD.
The PV project uses BYD’s half-cell solar panel with 18.8% average power, which is 3% higher than the conventional module’s power output.
Biosar, the subsidiary of the largest Engineer, Procure, Construct consultants (EPC) AKTOR in Greece, is mainly responsible for EPC for PV projects all over the world, and it has about 1GW of PV projects in Brazil, Argentina, UK and other countries.
This 75MW PV project is the largest one Biosar has in Australia, and is also the largest project for BYD in Australia.
After the project is finished, it will provide about 13.6 million Kwh per year to Queensland, and provide sustainable green power to 65,000 families per day.
BYD and Berkshire Hathaway
In 2008, Berkshire Hathaway bet on BYD’s potential, purchasing 225 million shares. It’s an investment that has paid off handsomely. Berkshire’s original investment of $230 million has grown in value almost ten-fold, and is now worth roughly $1.96 billion.
For More on BYD, read the Special Report: BYD, Berkshire’s Tesla.
© 2018 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.