MidAmerican Energy Acquires Stakes in the Topaz and Agua Caliente Solar PV Projects - Deal Analysis from GlobalData by GlobalData

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									           MidAmerican Energy Acquires Stakes in the Topaz and Agua
            Caliente Solar PV Projects - Deal Analysis from GlobalData
       Reference Code: GDAE0119M&A                                                                                                            Publication Date: January 2012


       1         Table of Contents
       1 Table of Contents.................................................................1
        1.1 List of Tables .................................................................1
       2 Summary .............................................................................2
       3 MidAmerican Energy Acquires Stakes in the Topaz and
         Agua Caliente Solar PV Projects .........................................2
        3.1 Deal Overview ...............................................................2
        3.2 Deal in Brief ...................................................................2
        3.3 Comparable Deals.........................................................2
        3.4 Key Drivers of the Deal .................................................2
          3.4.1    Long Term Power Purchase Agreement ..............2
          3.4.2    Renewable Portfolio Mandate ..............................2
          3.4.3    Decline in PV Module Prices ................................2
          3.4.4    Secured Project Funding ......................................3
          3.4.5    Features of Topaz and Agua Caliente Solar PV
                   Projects ................................................................3
          3.4.6    About the Companies ...........................................4
       4 Appendix ..............................................................................4
        4.1 Abbreviations.................................................................4
        4.2 Methodology ..................................................................4
          4.2.1    Coverage..............................................................4
          4.2.2    Secondary Research ............................................4
          4.2.3    Primary Research ................................................5
          4.2.4    Modeling and Forecasting ....................................5
        4.3 Contact Us.....................................................................5
        4.4 Disclaimer......................................................................5



       1.1       List of Tables
       Table 1: Comparable Deals ....................................................2
       Table 2: First Solar, Average Selling Price ($/watt) ................3
       Table 3: Solar Projects Detail ....................................................3
       Table 4: Abbreviations ............................................................4




                                                                                                                                                 GDAE0119M&A /Published JAN 2012
MidAmerican Energy Acquires Stakes in the Topaz and Agua                                                                                                                          Page 1
Caliente Solar PV Projects                                                                          © GlobalData. This report is a licensed product and is not to be copied, reproduced,
                                                                                                                                                            shared or resold in any form
                                                                             announced and the power purchase agreement for the project
                                                                             was signed. Moreover, the projects will allow First Solar to gain
       2      Summary                                                        capital to construct the plant.
       In December 2011, MidAmerican Energy acquired stakes in two
       ambitious solar power projects in the US. On December 7,              3.3     Comparable Deals
       2011, MidAmerican Energy announced purchase of 100% stake
                                                                               Table 1:    Comparable Deals
       of First Solar's 550 MW Topaz Solar power plant in San Luis
       Obispo County, California. On December 16, 2011,                                                                                         Deal
                                                                               Announced
                                                                                                Headline                                       Value
       MidAmerican Energy announced a deal to purchase a 49%                   Date
                                                                                                                                                ($m)
       stake in the 290-MW Agua Caliente solar project in Yuma
                                                                                                Tata Power to Acquire Remaining 51%
       County, Arizona from NRG Energy (NRG). First Solar had                  27-Dec-2011      Joint Venture Stake in Tata BP Solar                -
       acquired the Agua Caliente solar project from NextLight in June                          from BP Alternative Energy
       2010. Both the projects have secured long-term power                                     SunPower to Acquire Tenesol from
                                                                               23-Dec-2011                                                    165.40
       purchase agreements with Pacific Gas and Electric (PG&E),                                Total for $165m
       California and will facilitate the utility to meet the mandate of                        China Three Gorges to Acquire
       generating 33% of its power from renewable sources by 2020.             23-Dec-2011      21.35% Stake in EDP Energias from           3,520.00
                                                                                                Government of Portugal for $3.5 Billion
       3      MidAmerican Energy Acquires Stakes                                                Salamon Group to Acquire Certain
                                                                               28-Dec-2011                                                     12.74
              in the Topaz and Agua Caliente Solar                                              Stake in Sunlogics
              PV Projects                                                      21-Dec-2011
                                                                                                Government of Japan Plans to Acquire
                                                                                          
								
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