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MidAmerican buys Topaz Solar Farm from First Solar

MidAmerican Energy Holdings Company and First Solar have entered into definitive agreements.

07 December 2011

MidAmerican Energy Holdings Company and First Solar may have used business negotiation training when they were hashing out the details of a deal reported today (December 7th).

The planned 550-megawatt Topaz Solar Farm in California will be acquired by green pwoer company MidAmerican, although it is to be constructed, operated and maintained by First Solar.

"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," chairman, president and chief executive officer of MidAmerican Greg Abel said.

The project, which is worth more than $2 billion (£1.28 billion), should be able to generate enough electricity for 160,000 Californian homes while displacing as much as 377,000 tonnes of CO2 per year.

Nuclear power company Entergy announced earlier this week that it has struck a merger deal with ITC Holdings, which will see the latter firm operate transmission operations.

Posted by Ken Hayes

Source: First Solar statement, December 7th

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