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Buffett Buys 49% Stake in $1.8 Billion NRG Solar Power Plant

Warren Buffett’s MidAmerican Energy Holdings agreed to buy a 49 percent stake in NRG Energy Inc.’s $1.8 billion Agua Caliente solar project, the billionaire’s second investment in solar this month.

The 290-megawatt power plant is being built in Arizona by First Solar Inc., which expects to complete the installation of its panels by 2014, Princeton, New Jersey-based NRG said today in a statement. Terms of MidAmerican’s purchase weren’t disclosed.