Thursday, January 3, 2013

SunPower's Big Buffett Deal Triggers Solar Stock Rally

Look what Warren started.  According to Forbes Solar stocks are flying high Thursday morning, spurred on by the news that SunPower has sold its 570-megawatt Antelope Valley properties, a pair of solar generating stations in southern California under a deal which could be worth as much as $2.5 billion. The buyer is MidAmerican Solar, which is owned by MidAmerican Renewables, which in turn is a unit of  is a subsidiary of MidAmerican Energy Holdings…which is owned by Warren Buffett’s Berkshire Hathaway.

See where we landed here? Warren Buffett is making a big bet on solar energy.

In a filing with the SEC, SunPower said that total revenue from the deal is expected to be $2 billion to $2.5 billion, which includes engineering, design, construction and maintenance of the facilities.  SunPower shares have spiked $2.13, or 34.8%, to $8.26 on the news....

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