Dive Summary:
- MidAmerican Energy Holdings Co., a utility company owned by Warren Buffett’s Berkshire Hathaway Inc., will pay $2-2.5 billion to develop SunPower Corp.'s Antelope Valley projects in California.
- The solar projects, which could be the largest photovoltaic developments in the world, would have a combined generating capacity of 579 megawatts.
- Details on the arrangement appeared in a SunPower filing to the U.S. Securities and Exchange Commission Wednesday.
From the article:
"... Buffett has been increasing investments in wind and solar farms and last year formed a MidAmerican unit to support the projects it’s acquired, including the $2.4 billion 550-megawatt Topaz solar farm in California. Chief Financial Officer Patrick Goodman said in November that it’s favoring bets on renewable energy amid high utility valuations. California is the biggest U.S. solar market. ..."
