MidAmerican Energy, Berkshire Hathaway group of billionaire Warren Buffett, announced the acquisition of NRG Energy of a 49% stake in photovoltaic solar energy project in Agua Caliente (Arizona, USA).
The company controlled by Buffett acquired last December 7 First Solar company to another construction site in central San Luis Obispo (California), considered the second largest photovoltaic power layout of the world.
Neither company disclosed details of the transaction related to the project in Agua Caliente, 290-megawatt capacity and will cost 1,800 million dollars when completed in 2014, NRG Energy, based in Princeton (New Jersey).
The solar power plant is also being built by First Solar and is expected to generate enough clean electricity to suppress the emission into the atmosphere of 5.5 million tons of CO2 over the next 25 years.
President and CEO of MidAmerican Energy, Greg Abel said they are “aggressively pursuing opportunities” to expand its “presence in the renewable energy sector and the Agua Caliente project is an important step towards that goal.”
Meanwhile, his counterpart from NRG Energy, David Crane, said that the agreement “increases the strength and credibility of which is already one of the largest photovoltaic solar energy paths of the world.” The transaction is subject to the approval of the United States Department of Energy.