“Geothermal energy will play a critical role in the transition to renewable energy”
A recent article from Investor Place by Faisal Humayun highlights how Berkshire Hathaway (NYSE:BRK-A, NYSE:BRK-B) is typically correct when it comes to investing in long-term value creators and among Berkshire Hathaway’s recent investments are a growing portfolio of companies that are in the business of geothermal power.
“Berkshire also points out that “geothermal energy is so efficient, the only real source of energy loss comes from turbine friction.” While geothermal constitutes just 5% of renewable energy generation, the outlook seems promising. It might therefore make sense to consider some exposure to geothermal stocks.”
One of the major stocks they mention is the major oil company, bp.
The reason they chose to invest in bp is because of the recent major investment bp made, along with Chevron, in Eavor Technologies.
“In February 2021, BP and Chevron (NYSE:CVX) announced an investment of $40 million in Eavor Technologies. The latter is a Canada based geothermal energy company. Eavor aims to power the equivalent of 10 million homes by 2030.”