MidAmerican to buy 2 Calif. Solar power projects
MidAmerican Energy is buying two solar power projects under construction in Southern California from SunPower Corp. that will generate 579 megawatts of electricity.
MidAmerican, which is based in Des Moines, Iowa, agreed to pay between $2 billion and $2.5 billion for the projects, to be completed in 2015.
The company says the Antelope Valley Solar Projects will provide power to Southern California Edison.
MidAmerican, which is part of Warren Buffett's Omaha, Neb.-based Berkshire Hathaway Inc., agreed last fall to buy two California wind farms north of Los Angeles that can generate 300 megawatts of peak electric capacity.
MidAmerican's deal will give its renewable power subsidiary 1,830 megawatts of wind, geothermal, solar and hydro power production.
SunPower shares rose 33 cents, or 5.9 percent, to $5.95 in morning trading.
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