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Warren Buffet Buys World's Largest Solar Plant for Just Over $2 Billion!

by , 01/05/13
filed under: News, Solar Power

MidAmerican Renewables, California Public Utilities Commission, Southern California Edison, Antelope Valley Solar Projects, World's largest solar plant, Warren Buffet, Berkshire Hathaway, California, SunPower, solar tracking, photovoltaic plant, tracking, renewable energy, clean tech, green energy, renewable energy, clean energy

A division of MidAmerican Energy controlled by Warren Buffet’s Berkshire Hathaway, MidAmerican Renewables has purchased the 579-megawatt Antelope Valley Solar Projects (AVSP) from Silicon Valley solar manufacturer and developer SunPower. The 3,230 acre plant worth just over $2 billion will be outfitted with SunPower’s super efficient modular photovoltaic trackers and co-located on sites in Kern and Los Angeles counties in California. Together they will become the largest solar power plant in the world.



MidAmerican Renewables, California Public Utilities Commission, Southern California Edison, Antelope Valley Solar Projects, World's largest solar plant, Warren Buffet, Berkshire Hathaway, California, SunPower, solar tracking, photovoltaic plant, tracking, renewable energy, clean tech, green energy, renewable energy, clean energy

SunPower will build and operate the projects for MidAmerican Renewables, and the energy will be sold to Southern California Edison in accordance with two long-term agreements that have received approval from the California Public Utilities Commission. President of MidAmerican Renewables Bill Fehrman said that the company already has a portfolio of more than 1,830 megawatts of owned assets, including wind, geothermal, solar and hydro.

“We are excited about these projects because they support our core business principle of environmental respect,” he said in a recent statement. “We are very proud to add SunPower technology to our portfolio of projects.”

“The Antelope Valley Solar Projects mark a historic milestone for the energy industry,” said Howard Wenger, SunPower president, regions.

“We are delivering highly reliable low-cost renewable energy at a very large scale. SunPower is proud to partner with MidAmerican Solar and SCE, recognized leaders in clean energy development, bringing critically needed jobs and economic opportunity to California and helping the state achieve its renewable portfolio requirement.”

The AVSP solar plants will offset approximately 775,000 tons of carbon dioxide emissions, according to the U.S. Environmental Protection Agency (EPA), which is the equivalent of taking 3 million cars off the road over a 20 year period. Construction is expected to break ground in the first quarter of 2013 and come to a close towards the end of 2015.

Via Forbes

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6 Comments

  1. Gregor Smith January 6, 2013 at 3:25 pm

    Talk about a great acquisition! If you knew that they were going to increase the output of this facility by 3 times, how would you feel then? I tell you, it is going to happen very soon as MIT discovered an overlay material that increases the efficiency of solar panels to 3 times their current value, making Warren Buffet’s investment grow at about 300%…how do you like those apples! In fact, the process will be incorporated in many systems that have already been placed into operation, since the overlay is flexible and not costly to make…read up and cry that you didn’t think of it first! Gregor S. gregors@att.net

  2. zorrba January 6, 2013 at 8:57 am

    SHEC Energy has recently patented game changing innovations in concentrated solar thermal power and storage which reduce levelized costs of power to be competitive with fossil fuels.

    http://www.shecenergy.com

  3. cmaney January 5, 2013 at 4:38 pm

    This is good news! When Warren Buffet moves into a market, you can be sure he isn’t just doing it on a whim. As for the BS people are spouting about the Mr. Buffet and the Gates, they need to go do some research: both of them have given a *huge* amount to charity and various foundations, and have also said that the lion share of their estates will be given away when they die.

  4. deborah j barnes January 5, 2013 at 8:09 am

    this is all ridiculous, without social justice and economics for generative systems . Capitalizing on the needs of human beings is akin to cannabalism. The mad cow disease of having more cake then they can stuff into their frigging enlarged egos while doling crumbs to the rest of the whole is absurd Newtoinian ideology when we need to leap into unified field thinking. Dah quantum physics is real and it is about understanding full systems thinking and we are cells in system. Get you heads around the whole thing and realize Buffet and his billion hoarding playmates are ridiculous gamers…how do we help us all grow up when we applaud them in their antics?

  5. jameswilson January 3, 2013 at 4:25 pm

    Good going Warren. What are the tax advantages please? How has it been working out with Billy and Melinda and the little AIDS problem? That was the agreement with the Feds was it not? 80% went to the “mission”? We don’t agree on dynastic wealth but can we just stop fighting as we both dislike carbon dioxide emissions. And to my fellow Americans; it don’t cost an arm and a…can’t say that any more because you know why, those wars. You can build these things easy and pretty cheap. Get off that grid and save enough to educate yourself and your family.

  6. Patrick McMahon January 3, 2013 at 11:47 am

    Big news! Look for this shared by @energy_mobile on #SUNday!

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