BHE Renewables to invest $500M in renewables-powered W.Va. industrial site

A $500 million investment from a renewable energy company tied to billionaire Warren Buffett is expected to make West Virginia's coal-fueled economy a little greener.

Berkshire Hathaway Energy unit BHE Renewables LLC on Sept. 13 reached a deal with the state of West Virginia to purchase more than 2,000 acres and convert it into a renewable energy-powered manufacturing hub.

Precision Castparts Corp., also a subsidiary of Buffett's Berkshire Hathaway Inc., is expected to be the first company to locate on the site and plans to develop a facility that will manufacture titanium products primarily for the aerospace industry. The manufacturing hub will be powered by 100% renewable energy, the office of West Virginia Gov. Jim Justice said in a news release.

In addition, the West Virginia Economic Development Authority and BHE Renewables will work together to recruit more businesses to the site in Ravenswood, W.Va., on the Ohio River south of Parkersburg, W.Va.

"I couldn't be more proud of the fact that West Virginia will help lead the way into a new era of renewable energy microgrid-powered manufacturing," Justice said in a statement Sept. 13 announcing the agreement. Justice did not specify the specific type or amount of renewable energy to be developed to supply the manufacturing site.

After calling a special session of the West Virginia Legislature, Justice on Sept. 13 also signed a bill that establishes a program to provide incentives toward the development, operation and expansion of industrial plants in the state that have demonstrated the need to be powered by electricity generated from renewable resources.

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