June 28, 2013 / 2:56 PM / 6 years ago

MidAmerican sells $1 billion in notes for California solar farm

June 28 (Reuters) - MidAmerican Energy Holdings Co said its Solar Star Funding LLC completed a $1 billion, 5.375 percent notes offering to fund continued construction of its 579-megawatt (MW) Solar Star 1 and 2 projects in southern California.

In a release, MidAmerican, a unit of Warren Buffett’s Berkshire Hathaway Inc, said the projects were formerly known as the Antelope Valley solar projects.

MidAmerican bought the projects from California solar power company SunPower Corp in January for up to $2.5 billion.

MidAmerican said the Solar Star projects together are the world’s largest solar power developments under construction.

It also said the notes offering is the largest single project bond financing ever completed for a solar project.

The principal of the notes amortizes semi-annually beginning June 30, 2016, with a final maturity of June 30, 2035, the company said.

MidAmerican, of Des Moines, Iowa, provides electric and natural gas service to more than 7 million customers worldwide.

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