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Tuesday, November 07, 2006

Bill Gates Enters Energy Industry: Electricity & Ethanol

He revolutionized computers, left the revolution to pursue philanthropy, and is now entering the energy business. Cascade Investments LLC is Gates' investment vehicle and it has purchased PNM Resources Inc, a New Mexico utility. PNM and Cascade have formed a new company called EnergyCo Ltd to market electricity from unregulated power plants (called merchant generators). PNM is headquartered in Albuquerque, New Mexico.

Gates' Cascade invested almost $ 84 in Pacific Ethanol Inc earlier in 2006. (Wash Post)

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