Deals
Buffett’s $2 Billion Solar Bet Receives ‘Attractive’ Power Rates
This article is for subscribers only.
Warren Buffett’s Berkshire Hathaway Inc., which is buying a $2 billion solar project in California, may have picked the right time to invest in the industry.
The 550-megawatt Topaz project will qualify for a federal incentive because construction began last month, and it will sell electricity under a long-term contract that was completed before prices for solar panels fell 44 percent in the last year. Berkshire’s MidAmerican Energy Holdings utility unit and First Solar Inc., the project developer, announced the deal yesterday.