Berkshire Hathaway arm takes solar leap

Jan. 3, 2013 at 9:48 AM
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SAN JOSE, Calif., Jan. 3 (UPI) -- A division of Warren Buffett's Berkshire Hathaway company said it was investing in what it says will be the largest solar plant in the world in California.

MidAmerican Energy Holdings, a Berkshire Hathaway subsidiary, landed a deal with renewable company SunPower to acquire two California solar projects that will have a combined capacity of 579 megawatts.

The subsidiary said that, combined, the two projects will form the largest permitted solar power development in the world.

The Antelope Valley solar projects will supply power to utility company Southern California Edison in two long-term contracts.

"The Antelope Valley solar projects mark a historic milestone for the energy industry," Howard Wenger, SunPower president of regions, said in a statement. His company, under the terms of the deal, will provide the solar technology on the 3,230-acre site.

SunPower said the projects would offset more than 775,000 tons of carbon dioxide emissions per year, which is equivalent to removing about 3 million cars from California roads over the 20-year life span of the plant.

Construction is expected to begin early this year. Both sites should be completed by the end of 2015.

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