SunPower Corp said it sold two solar projects in California to a company controlled by Warren Buffett's Berkshire Hathaway Inc, and would receive up to $2.5 billion in proceeds and related contracts.Berkshire utility MidAmerican Energy Holdings Co will pay SunPower between $2.0 billion and $2.5 billion for the 579-megawatt (MW) Antelope Valley solar projects and for designing, installing and constructing them, the company said in a regulatory filing on Wednesday. ()Construction of the projects, which the companies called the world's largest photovoltaic power development, will begin this quarter and is expected to be completed by the end of 2015.The stamp of approval from a Buffett utility, combined with expected cashflow from the projects, will make SunPower more bankable and more creditworthy, its Chief Executive Tom Werner told Reuters.
Berkshire Hathaway Inc. (Berkshire) is a holding company owning subsidiaries engaged in a number of diverse business activities. Shares of BRK-A traded higher by 4.14% or $5550.0/share to $139610.00. In the past year, the shares have traded as low as $113855.00 and as high as $136345.00. On average, 75456 shares of BRK-A exchange hands on a given day and today's volume is recorded at 832.
Berkshire Hathaway Inc. (Berkshire) is a holding company owning subsidiaries engaged in a number of diverse business activities. Shares of BRK-B traded higher by 3.9% or $3.5/share to $93.20. In the past year, the shares have traded as low as $75.86 and as high as $90.93. On average, 4468370 shares of BRK-B exchange hands on a given day and today's volume is recorded at 7528883.
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