Greg Abel has transformed Berkshire Hathaway Energy (BHE) into a leading company in the energy sector. Born in Canada, Abel started his career as an accountant and later became a key executive in the utility industry. He has been with Berkshire’s energy division for more than three decades. Under his leadership, BHE expanded from a regional utility into a major player in the energy field, becoming one of the top wind and solar power producers in the United States.
This article explores Abel’s career in the energy industry and highlights the significant achievements that established BHE as a leader in renewable energy and utility services. We will also discuss how his success at BHE opened up larger opportunities within Berkshire Hathaway Inc. and led to him being chosen by Warren Buffett as his successor.
Greg Abel’s early life and career
Greg Abel was born in Edmonton, Alberta. He graduated from the University of Alberta in 1984 with a degree in commerce. After finishing college, he worked as an accountant at PricewaterhouseCoopers, also known as PwC. In 1992, Greg decided to leave PwC and joined CalEnergy, a company that generated electricity. By 1998, he climbed the ranks to become President of CalEnergy. That same year, CalEnergy bought MidAmerican Energy Holdings, an up-and-coming utility company in Iowa, and adopted the name MidAmerican.
In 2000, Warren Buffett’s Berkshire Hathaway purchased CalEnergy/MidAmerican. Greg, who was already leading the company, became part of the Berkshire Hathaway family. The company was later renamed Berkshire Hathaway Energy.
Significant moments in Greg Abel’s career:
- In 1984, he graduated from the University of Alberta and began his career at PwC.
- In 1992, he moved to CalEnergy, which later turned into MidAmerican/BHE.
- By 1998, he was named President of CalEnergy/MidAmerican.
- In 2000, when Berkshire Hathaway acquired CalEnergy (MidAmerican), Greg remained with the company.
- In 2008, he advanced to CEO of MidAmerican/BHE.
- By 2018, he became Vice Chairman of Berkshire Hathaway, responsible for non-insurance businesses.
- In 2021, he was recognized as Warren Buffett’s successor.
- In 2025, he was announced as the next CEO of Berkshire Hathaway.
Transforming Berkshire Hathaway Energy
When Abel took charge of BHE, previously known as MidAmerican, he focused on making it a powerful company. He led BHE as CEO from 2008 to 2018 and remains its Chairman. Under his direction, BHE saw significant growth in size and activities. By 2024, the company had employed nearly 24,000 people and was generating about $25.9 billion annually. BHE’s services include coal and natural gas utilities, hydroelectric dams, pipelines, and large renewable projects, turning it into a full-service energy company. Its diverse businesses cover various regions, from PacifiCorp in the West to NV Energy in Nevada, MidAmerican in Iowa, and Canada’s AltaLink, supporting everything from homes to industries.
Several key acquisitions contributed to BHE’s rapid growth under Abel:
- PacifiCorp (2005): MidAmerican acquired PacifiCorp, an electric utility serving the Pacific Northwest and Rocky Mountain states, expanding BHE’s reach across the country.
- NV Energy (2013): BHE purchased Nevada’s largest utility, NV Energy, incorporating Nevada and parts of California into its network.
- Dominion Energy Pipelines (2020): BHE agreed to buy Dominion Energy’s natural gas transmission business, significantly increasing its gas pipeline miles across the U.S.
- Renewable Investment: Beyond acquisitions, Abel pushed for substantial investment in renewable energy. In 2003, he announced plans for a massive wind facility in Iowa, a 310 MW wind farm with 180-200 turbines. Under his leadership, BHE added thousands of wind turbines and solar panels, becoming one of the nation’s largest wind energy operators.
- Achievements and Growth: By 2024, BHE’s expansion resulted in tens of billions in revenue. Analysts highlighted BHE as the fastest-growing division of Berkshire Hathaway, thanks largely to Abel’s initiatives in utilities and renewable energy.
This focus on acquiring utilities and developing renewable power positioned BHE as a leader in the energy industry. Buffett noted that Abel transformed MidAmerican into Berkshire Hathaway Energy, the largest U.S. wind energy producer. BHE now operates vast wind farms in Iowa, Illinois, the Dakotas, and beyond, alongside significant solar projects in the Midwest and West.
Advancing renewable energy
Abel’s focus on clean energy highlights his career. He supported wind and solar power early on, even before they became widely popular. As the leader of BHE, he expanded the company’s involvement in renewable energy sources like wind, solar, geothermal, and hydroelectric, along with traditional fuels. In 2003, while leading MidAmerican, he launched a $323 million wind project in Iowa, the biggest wind farm worldwide at that time. This project generated 310 MW of power, supplying 85,000 homes, and positioned Iowa as a leader in wind energy.
These early successes paved the way for future developments. Over the following decade, Abel significantly grew BHE’s renewable energy initiatives. MidAmerican set up wind farms across the Midwest, while BHE funded major solar projects on lands like brownfields and farmlands, and solar initiatives with storage solutions in Texas. The company also explored new technologies, including battery storage.
By the mid-2020s, BHE’s production of renewable energy was remarkable. Abel led these efforts, organizing a large network of electric utilities and wind operations and establishing one of the largest renewable energy platforms in the U.S. BHE’s wind turbines now generate a significant portion of the electricity in Iowa and several other states, while its solar panels provide power to thousands of homes yearly.
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Key renewable energy projects:
Under Abel’s leadership, Berkshire Hathaway Energy developed or acquired numerous wind and solar farms. From the late 2000s into the 2010s, MidAmerican added substantial wind power capacity, allowing Iowa and neighboring states to rely heavily on wind energy. More recently, BHE announced a $3.2 billion solar and storage project in Texas, designed to power 500,000 homes. These projects demonstrate Abel’s strategy of investing heavily and long-term to achieve climate goals and serve customers’ needs.
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Pioneering clean energy:
Abel’s efforts have solidified BHE’s reputation. As reported by Bloomberg, he was crucial in building Berkshire Hathaway Energy into one of the top producers of wind and solar energy in the U.S. The company often highlights its clean-energy milestones, such as increasing renewable energy output even as demand rises. Abel’s leadership transformed BHE into a leading example for utilities moving towards renewable energy, setting a benchmark for energy companies around the world.
Major milestones and accomplishments
Abel’s career is filled with significant achievements in the industry:
World-Class Wind Farms: Abel’s 2003 wind project in Iowa was a major success. It was a key moment that placed Iowa as a leader in renewable energy, paving the way for larger initiatives. Soon after, MidAmerican (BHE) began setting impressive records for wind power in one state.
A renewable portfolio:
By 2024, BHE’s reliance on renewable energy reached new heights. In 2023, about 60% of Iowa’s electricity came from wind, mainly from BHE’s turbines. BHE also boosted its clean energy mix with hydroelectric dams and geothermal plants, adding to its diverse energy production.
Acquisition successes:
Abel successfully incorporated large purchases into BHE’s framework. Acquiring PacifiCorp and NV Energy not only expanded the company but also enabled massive wind and solar projects across new grids. Over several years, he managed these complex mergers, handling regulatory and integration challenges with great skill.
Record financial growth:
BHE experienced remarkable financial growth, with revenue nearly doubling from 2018 to 2024, rising from approximately $12-14 billion to $25.9 billion. In 2024 alone, its utilities and pipelines generated tens of billions in revenue. This growth occurred while maintaining strong financial discipline, with returns on capital surpassing even those of Buffett’s renowned stock portfolio.
Empowering subsidiaries:
Abel strengthened BHE by empowering skilled managers and providing strategic direction. Under his leadership, subsidiaries like MidAmerican, PacifiCorp, NV Energy, and Canadian utilities thrived. He also developed HomeServices of America, a real-estate brokerage, into another successful enterprise, highlighting his extensive business acumen.
A practical and detail-focused leader
Greg Abel is known as a hands-on, detail-oriented leader. He looks closely at numbers and asks important questions. People say he is good at asking smart questions and checking financial details carefully. He makes sure every plan is well thought out. Warren Buffett once said, “I don’t want to work as hard as he does,” showing that Abel is always ready to dive into the details and get involved in operations. His careful style helps his teams find new opportunities and manage projects effectively.
Even though his responsibilities are growing, Abel keeps a low profile in public. He doesn’t try to dominate the headlines but, instead, lets his achievements speak for themselves. Buffett praises Abel as a great teacher and partner. He even joked, “Abel does all the work, and I take all the credit,” highlighting Abel’s strong work ethic. Abel’s talent is clear: he has managed utilities, railroads, and retail chains that make billions in profit. Under his leadership, company divisions have met their goals smoothly and exceeded expectations.
From energy leader to Berkshire’s future CEO
Abel’s achievements at BHE prepared him for larger roles. Starting in 2018, Warren Buffett gave Abel key responsibilities. Buffett put Abel in charge of all Berkshire’s non-insurance businesses, including manufacturing, retail, railroads, and utilities. This role involved overseeing companies like BNSF Railway, Dairy Queen, electric utilities, and pipeline companies. As Vice Chairman of non-insurance, Abel reported only to Buffett, showing a high level of trust. Buffett shifted key business areas under Abel’s control.
On May 3, 2025, at Berkshire’s annual meeting, Buffett announced he would step down as CEO at the year’s end and recommended Abel as his successor. The Berkshire board quickly and unanimously approved this decision. Buffett will remain as Board Chair. This change was anticipated for some time; as early as 2021, Buffett and his partner Charlie Munger identified Abel as their likely successor. Abel has been preparing for this role, joining Berkshire’s Board in 2018, and taking on more investment responsibilities, including areas like capital deployment that Buffett typically managed.
Berkshire’s leadership after 2025
Following the board’s decision, Abel is set to become Berkshire’s next CEO, taking over from Buffett. He will continue to lead BHE as Chairman, but his role will expand far beyond energy. Abel will oversee all of Berkshire’s manufacturing, retail, railroad, and utility businesses. This includes everything Buffett managed outside of insurance, from railroads to ice cream shops. The insurance businesses are under Vice Chairman Ajit Jain, allowing Jain and Abel to manage the entire operation effectively. Abel has said he plans to be even more involved with the subsidiaries than Buffett was, maintaining an active management style.
Legacy and outlook
Greg Abel’s leadership at Berkshire Hathaway Energy tells a story of careful and smart expansion. Starting with a small regional utility company, he transformed it into a major leader in energy. Under his direction, not only did BHE grow by acquiring other companies, but it also became known for its work in renewable energy. With almost $26 billion in revenue and the largest wind power portfolio in the country, Abel played a key role in redefining this energy giant.
As Warren Buffett steps back, he has entrusted Abel with leadership. Buffett has expressed confidence that the company will thrive under Abel’s guidance. Abel’s experience in both the energy sector and overall business strategy for Berkshire positions him strategically to handle future challenges.
Bottom line
Simply put, Greg Abel’s leadership journey at Berkshire Hathaway Energy is marked by bold projects, steady growth, and a commitment to sustainable power. He led major initiatives like creating large wind farms in Iowa and integrating significant utility acquisitions. These efforts have turned Berkshire Hathaway Energy into a market leader and earned him Warren Buffett’s confidence. As Abel moves from overseeing the utility business to serving as CEO of Berkshire Hathaway Inc., many in the energy sector, along with the company’s shareholders, will be closely watching how he guides the conglomerate into its next era.
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