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Mega-Solar Matchmaking in California

James Montgomery

KD501Flexing its billion-dollar muscles once again in the renewable energy space, MidAmerican Energy Holdings Company (famously backed by Warren Buffett's Berkshire Hathaway Inc. [BRK-A and BRK-B]) is buying two co-located solar projects in California from SunPower [SPWR], billed as the world's largest permitted solar PV power development. The deal for Antelope Valley Solar Projects (AVSP), totaling approximately 579 megawatts (AC) combined generation capacity, is for an unspecified amount between $2-$2.5 billion.
A snapshot of MidAmerican Renewables' project portfolio:

Solar: 1.271 GW

- AVSP 1 & 2; the 550-MW Topaz project in San Luis Obispo County, CA; and a 49% stake in the 290-MW Agua Caliente project in Yuma County, AZ

Hydro: 5 MW

- A 50% ownership in the 10-MW "Wailuku" project on the eastern coast of the island of Hawaii

Wind: 381 MW

- Recent acquisitions of the 168-MW Alta Wind VII and 132-MW Alta Wind IX projects in Kern County, CA; and the 81-MW Bishop Hill II project in Henry County, IL

Geothermal: 174 MW

- Projects primarily in the Salton Sea area of Southern California's Imperial Valley

To SunPower president Howard Wenger, this deal represents no less than "a historic milestone for the energy industry." Cost-competitive with natural gas peaker plants, the AVSP projects define "a perfect example of how scale is driving cost reduction."
Jim Montgomery is Associate Editor for RenewableEnergyWorld.com, covering the solar and wind beats. He previously was news editor for Solid State Technology and Photovoltaics World, and has covered semiconductor manufacturing and related industries, renewable energy and industrial lasers since 2003. His work has earned both internal awards and an Azbee Award from the American Society of Business Press Editors. Jim has 15 years of experience in producing websites and e-Newsletters in various technology.

This article was first published on RenewableEnergyWorld.com, and is reprinted with permission.

was posted on AltEnergyStocks.com.


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