Warren Buffett's Utility to Buy Massive Californian Solar Farm (550MW) from First Solar

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Betting on the Sun

MidAmerican Energy, a large utility owned by Berkshire Hathaway, Warren Buffet's investment vehicle, is already one of the top utilities when it comes to wind power in the USA. Apparently, the Oracle of Omaha is also bullish on solar power. MidAmerican is reportedly buying the 550-megawatt photovoltaic Topaz Solar Farm from First Solar. It's located in the Carrizo Plain, northwest of California Valley, and it is expected to be fully operational by 2014.

First Solar/Promo image

The Topaz Solar farm, which will use First Solar's thin film PV technology, is currently under construction in California. It's not yet known how much Buffett's MidAmerican is paying for the solar plant, but construction costs are around $2 billion.

The Topaz plant will generate enough power for 160,000 average homes. "Adding solar energy to our generation portfolio is a strategic move to invest in yet another renewable energy source," said Greg Abel, chairman, president and chief executive officer of MidAmerican Energy.

Via MarketWatch

See also: Warren Buffett Buys 49% Stake in Arizona's 290-Megawatt 'Agua Caliente' Solar Project

Tags: Alternative Energy | Solar Energy | Solar Power

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