Warren Buffet’s energy company has placed another big bet on solar power plants, spending up to $2.5 billion to buy two facilities under development by San Jose’s SunPower Corp.
A subsidiary of Buffett’s MidAmerican Energy Holdings Co. will own the 579-megawatt Antelope Valley Solar Projects, two power plants that will straddle the line between Kern and Los Angeles counties in the Mojave Desert. SunPower will manage the plants’ engineering and construction under a deal the companies reported Wednesday.
Construction is expected to begin in the next three months and wrap up in 2015, employing about 650 workers. Once complete, the plants will sell electricity to Southern California Edison under agreements already approved by California utility regulators.
Read more: http://www.sfgate.com/business/article/Buffett-firm-bets-big-on-solar-4163046.php#ixzz2Gw2PIJ60
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