Solar stocks were burning up Thursday, led by a 41% share price boom for SunPower, which this week said it sold a pair of massive Southern California solar power plants to a Warren Buffett company.
San Jose-based SunPower said in a filing with the Securities and Exchange Commission that it sold two Antelope Valley photovoltaic projects to MidAmerican Solar, a subsidiary of MidAmerican Energy Holdings, itself owned by Buffett’s company Berkshire Hathaway. The 579-megawatt pair is still under development.
The projects, located in Kern and Los Angeles counties, will together form the largest permitted solar photovoltaic power development in the world, according to SunPower.
The California Public Utilities Commission has approved two long-term power purchase contracts in which the sites will provide renewable energy to Southern California Edison.