On January 31st, 2012 MidAmerican Renewables LLC (Des Moines, Iowa, U.S.) announced that it has completed the acquisition of the 550 MW Topaz Solar Farm from First Solar Inc. (Tempe, Arizona, U.S.) for an undisclosed sum.

First Solar began construction on the solar photovoltaic (PV) plant in Tempe, Arizona in December 2011 and expects to complete the plant by early 2015. The plant is comprised of First Solar cadmium telluride PV modules, and the company will operate and maintain the plant when complete.

"There is a growing desire to utilize renewable energy," said MidAmerican Renewables President Bill Fehrman. "Solar plays a crucial role in meeting renewable energy targets and portfolios."

"The closing of the Topaz project acquisition makes it the second solar project in our renewables business, and we look forward to evaluating and acquiring additional opportunities."

Pacific Gas and Electric Company (PG&E) will purchase the electricity generated by the Topaz plant through a 25-year power purchase agreement.


Warren Buffet gets involved with solar

On December 7th, 2011 MidAmerican Energy Holdings Company (Des Moines, Iowa) announced that it had entered into a definitive agreement to acquire the Topaz plant.

This move was seen by many as a sign of solar energy's growing mainstream acceptance. The acquisition also gained significant media attention due to MidAmerican parent company Berkshire Hathaway Inc.'s (Cumberland, Rhode Island, U.S.) celebrity Chairman and CEO Warren Buffett.

MidAmerican has since created a new Renewable Energy business unit, as well as a Solar Energy subsidiary, and has acquired a 49% stake in the 290 MW Agua Caliente solar project.

2012-02-02| Courtesy: MidAmerican Energy Holdings Company; image: First Solar | solarserver.com © Heindl Server GmbH

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