Topaz solar project acquisition complete01. February 2012 | Applications & Installations, Industry & Suppliers | By: Becky Stuart
MidAmerican Energy Holdings Company subsidiary, MidAmerican Renewables, LLC has completed its acquisition of First Solar’s 550 megawatt (MW) Topaz solar project.
It was first announced at the start of December that MidAmerican and the thin film photovoltaics manufacturer had entered into definitive agreements to sell the over US$2 billion solar farm, on which construction is currently underway in San Luis Obispo County, California. It is scheduled for completion in early 2015.
The electricity generated by the project - expected to supply enough energy to power approximately 160,000 average California homes - will be sold to Pacific Gas and Electric Company under a 20 year power purchase agreement.
"The closing of the Topaz project acquisition makes it the second solar project in our renewables business, and we look forward to evaluating and acquiring additional opportunities," commentedBill Fehrman, president of MidAmerican Renewables.
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