The solar panel manufacturer SunPower, California subsidiary of French Total, announced it sold two solar projects with MidAmerican Solar, whose production capacity is expected to reach 579 megawatts peak (MWp).
Combined, the two projects represent “the largest solar development ever undertaken in the world,” said MidAmerican Solar in a statement.
The amount of the transaction for the benefit of SunPower would be between 2 and 2.5 billion, press reported. Facilities to be designed, installed and maintained by SunPower expected to create about 650 jobs.
SunPower will install mission on the site of Antelope Valley Solar, solar power Oasis model composed of ETFs, able to follow the sun during the day. This process allows to increase the energy efficiency of about 25%. The construction phase will begin in the first quarter of 2013 is expected to be completed by the end of 2015.
“The renewable subsidiary of MidAmerican Energy Group now has a portfolio of more than 1,830 megawatts, including wind energy, geothermal energy, solar energy and hydro assets,” said Bill Fehrman, chairman of MidAmerican Renewable.
It is worth recalling that the group belongs to MidAmerican Energy Holding investment company Berkshire Hathaway, headed by the famous American billionaire Warren Buffett, who is now 82 years old.
With 66% stake in SunPower, Total took control in April 2011. However, despite this strategic decision by the French oil giant, SunPower also seems affected by the crisis in the solar industry. The company has announced mid-October a plan for abolishing 900 positions, mainly in the Philippines.