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Buffett's MidAmerican makes second foray in solar

Fri, 12/16/2011 - 11:23am
Reuters

LOS ANGELES (Reuters) - Warren Buffett's MidAmerican Energy Holdings made its second foray into solar energy in as many weeks, saying on Friday it will buy a 49 percent stake in an Arizona power plant from NRG Energy Inc.

Terms of the deal were not disclosed.

MidAmerican, the utility affiliate of Buffett's holding company Berkshire Hathaway Inc, said it will take a stake in the 290-megawatt Agua Caliente project in Yuma County, Arizona. The plant is being built by solar power company First Solar Inc and is supported by a $967 million loan guarantee from the U.S. Department of Energy.

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