MidAmerican Solar To Pay Up To $2.5B For SunPower Complex

Law360, New York (January 2, 2013, 2:30 PM EST) -- MidAmerican Solar, a subsidiary of Warren Buffett's MidAmerican Energy Holdings Co., will buy SunPower Corp.'s 579-megawatt Antelope Valley solar project in Southern California for $2 billion to $2.5 billion, the parties said Wednesday.

The proposed complex is the largest permitted solar photovoltaic power development in the world and will offset more than 775,000 tons of carbon dioxide emissions per year — the equivalent of removing almost 3 million cars from the road over 20 years, according to the companies.

Under the deal, SunPower will build and...
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