BUFFETT COMPANY BUYS WORLDS BIGGEST PV

MidAmerican Solar Acquires World's Largest Solar Development from SunPower; Antelope Valley Solar Projects Will Generate 579 Megawatts for Southern California Edison

January 2, 2013 (PR Newswire via MidAmerican Renewables)

“…SunPower Corp. (NASDAQ: SPWR) announced [Warrern Buffett-owned Berkshire Hathaway subsidiary] MidAmerican Solar's acquisition from SunPower of the 579-megawatt Antelope Valley Solar Projects (AVSP), two co-located projects in Kern and Los Angeles Counties in Calif. Together, the two combined projects will form the largest permitted solar photovoltaic power development in the world and will create an estimated 650 jobs during construction…

“…[AVSP] will provide renewable energy to Southern California Edison (SCE) under two long-term power purchase contracts approved by the California Public Utilities Commission…SunPower developed the co-located Antelope Valley Solar Projects over the last four years. At the 3,230-acre site, SunPower will install the SunPower®Oasis® Power Plant product [high-efficiency SunPower solar panels and SunPower® T0 Trackers], fully integrated, modular solar technology that is engineered to rapidly deploy utility-scale solar projects while minimizing land use…”

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“…SunPower will be the engineering, procurement and construction [EPC] contractor and will operate and maintain the facility via a multiyear services agreement…Construction of the solar project is scheduled to begin in first quarter 2013, with the plants expected to be complete by year-end 2015…AVSP has secured final conditional use permits and has completed full environmental review pursuant to the California Environmental Quality Act…

“MidAmerican Solar's projects also include the 550-megawatt Topaz Solar Farms in San Luis Obispo County, Calif., and a 49 percent ownership interest in the 290-megawatt Agua Caliente solar project in Yuma County, Ariz…SunPower has more than 1,000 megawatts of solar power plants operating worldwide, including the first 130 megawatts of the 250-megawatt California Valley Solar Ranch, which is under construction in San Luis Obispo County, Calif…”

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