Warren Buffett buys solar project in SLO County

Celebrity investor Warren Buffett now owns a piece of San Luis Obispo County.

First Solar announced today that it has sold its 550-megawatt Topaz Solar Farm in the Carrizo Plain to MidAmerica Energy Holdings, which is owned by billionaire Buffett's multinational holding company Berkshire Hathaway Inc. First Solar will continue to build and operate the huge photovoltaic plant, but MidAmerica will be the owner.

The solar farm is estimated to be worth more than $2 billion. First Solar began construction in November, and the plant is expected to become fully operational in three years.

UPDATE: 2:55 p.m.

The deal is expected to be finalized within the next three months. First Solar must first meet certain of the county’s permit requirements and electrical connection arrangements.