MidAmerican Energy Holdings Co. announced today that it has entered into definitive agreements to acquire the Topaz Solar Farm from First Solar, Inc. The 550-megawatt photovoltaic power plant being built in San Luis Obispo County, Calif., will be able to generate enough renewable energy to power about 160,000 California homes.

The more than $2 billion Topaz project is one of the two largest photovoltaic projects in the world.

“MidAmerican is the No. 1 owner of wind-powered energy generation among U.S. rate-regulated utilities. Adding solar energy to our generation portfolio is a strategic move to invest in yet another renewable energy source,” said Greg Abel, chairman, president and CEO of MidAmerican Energy Holdings Co.