MidAmerican Energy to buy 550MW solar plant in California

MidAmerican Energy has entered into an agreement to buy a 550MW solar photovoltaic power plant in the US state of California from First Solar.

The Topaz solar farm, which is being built in San Luis Obispo County, will generate enough electricity to power about 160,000 average homes in California.The facility will be constructed, operated and maintained by First Solar for MidAmerican and will cost more than $2bn.The electricity generated by the solar farm will be purchased by Pacific Gas and Electric Co under a 25-year agreement.Construction of the facility began in November 2011 and is expected to be completed by early 2015.