January 2, 2013
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of SunPower (NASDAQ: SPWR ) jumped as much as 10% in early trading today after it was announced that Warren Buffett would buy one of its solar projects.
So what: Berkshire Hathaway's (NYSE: BRK-A ) (NYSE: BRK-B ) MidAmerican Energy unit will spend between $2 billion and $2.5 billion to buy the Antelope Valley projects SunPower is building. The projects will have 579 MW of capacity and are due to be complete in 2015.
Now what: This is the second big solar buy from Buffett, who also bought hundreds of megawatts in projects from First Solar (NASDAQ: FSLR ) . For SunPower, it's an assurance that there's a buyer for the biggest project it has started. This is just another sign that solar is here to stay, and SunPower will be one of the leaders going forward.
Interested in more info on SunPower? Add it to your watchlist by clicking here.