First Solar, the largest maker of thin-film panels, is up almost 10% as it has sold its Topaz Solar Farm to Mid-American Energy, a subsidiary of Warren Buffett’s Berkshire Hathaway. According to the Topaz Solar Farm website, Topaz will be completed in 2014. Upon completion, it will generate 550 megawatts and will provide clean energy to tens of thousands of homes throughout central California.
On the acquisition, Mid-American’s CEO Greg Abel had the following to say:
“Our investment in wind resources benefits both our customers and the environment, and our entry into the solar energy industry expands our renewable energy footprint and will help meet current and future energy needs in a manner that reflects our ongoing commitment to environmental respect and cost-effective generation.”
Upon its completion in 2014, Pacific Gas & Electric (PCG) will buy electricity from the Topaz Farm under a 25 year purchase agreement.
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