The richest US citizen with $72bn net worth, and Microsoft founder Bill Gates has been a part of a $35m infusion in Aquion Energy, and an $8m investment along with Khosla Ventures, in power control technology manufacturer, Varentec, in April and September 2013, Utility Dive reports.
Gates also founded TerraPower with an aim to develop a sustainable and economic nuclear energy system in 2006.
Another American business magnate with $58.5bn fortune, Warren Buffett has controlled almost 90% of MidAmerican Energy Holdings Co., which in turn owns MidAmerican Energy and Northwest power company PacifiCorp.
Buffett has recently acquired Nevada-based utility NV Energy for $10bn to supplement his renewables business and also help the company retire some of its coal-fired generation.
Oracle co-founder Larry Ellison, who purchased 98% of the Hawaiian island of Lanai in June 2012 for $300m, plans to install solar photovoltaic and solar thermal power systems to power the island’s homes and businesses, and also the proposed desalinization plant to convert sea water to fresh water.
Kansas-based Koch Energy Services Industries co-owner David Koch is another tycoon venturing into the power generation, with proposed acquisition of the 1,055MW Odessa natural gas-fired power plant from Energy Capital partners for an undisclosed amount, according to the news agency.
PayPal founder and SpaceX and Tesla Motors CEO, Elon Musk is also the driving force behind SolarCity, which provides customers an energy storage option through an 8 kilowatt-hour battery system.
The compay intends to deploy 270MW of solar systems in 2013.
