World’s largest solar energy project to be built 3rd January, 2013 Nick Boyle
US billionaire Warren Buffet is set to acquire what is likely to become the world’s largest photovoltaic development, the Telegraph has reported.
A subsidiary of Berkshire Hathaway investment company, MidAmerican Energy Holdings, has agreed a deal with SunPower to take over and build two large projects in Antelope Valley, California.
MidAmerican are believed to be paying between $2bn and $2.5bn for the deal, which marks Mr. Buffet’s third investment in solar energy in just over 12 months.
Completion on projected previously taken on by MidAmerican are expected to be completed by the end of 2015 – with SunPower continuing its involvement in the construction and operation of the projects.
The two new projects will have an overall capacity (when combined) of 579 megawatts and is expected to create around 650 construction jobs.