November 17, 2024 8:40 am
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Buffett’s Berkshire Hathaway buying two large Calif. solar projects

MidAmerican Energy Holdings Co., a company with ties to investor Warren Buffett, says it has purchased two massive solar power projects in California.

MidAmerican Solar, a subsidiary of the holding company owned by Buffett’s Berkshire Hathaway (BRKA, Fortune 500), said Wednesday it has purchased the Antelope Valley Solar Projects from SunPower Corp (SPWR).

The projects are a pair of photovoltaic developments in Kern and Los Angeles counties comprising more than 3,230 acres. The projects are still under development. Construction is planned to begin in the first quarter of 2013 and to be completed by the end of 2015.

The companies described the combined projects as the largest permitted solar photovoltaic power development in the world and said it will create 650 construction jobs.

The companies said that panels at the twin projects are designed to track the sun as the earth moves during the day, increasing the capture of solar power by 25%.

Information from CNN

Also: U.S. Electricity Use on Wane 

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