Skadden Reps First Solar In Sale Of $2B Plant

Law360, New York (December 7, 2011, 2:09 PM EST) -- Warren Buffett's MidAmerican Energy Holdings Co. has agreed to purchase a $2 billion solar power plant under construction in California, a deal necessitated by seller First Solar Inc.’s failure to secure a government loan to pay for the project's completion, the companies said Wednesday.

MidAmerican, which already has a substantial wind-power portfolio, is buying the Topaz Solar Farm, a 550-megawatt photovoltaic power plant being built in San Luis Obispo County, Calif. Under the terms of the agreement, First Solar will construct, operate and maintain the project...
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