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Bloomberg
An industry that didn’t exactly champion the rise of renewables may be a surprising beneficiary of Alexandria Ocasio-Cortez’s Green New Deal: utilities. The plan pressed by the freshman congresswoman from the Bronx aims to rid America’s power grids of carbon emissions.
That could help speed up existing trends in the sector, including coal retirements and the increasing deployment of renewables, CreditSights Inc. analysts wrote in a note.
Utilities including Warren Buffett’s Berkshire Hathaway Energy and NextEra Energy Inc. are increasingly looking to own wind and solar assets that are now among the cheapest
electrical sources.