MidAmerican Energy Holdings Company, which is controlled by Buffett’s Berkshire Hathaway, received the green light from state regulators back in 2003 for its 159-megawatt Black Rock project in the desert east of San Diego. But by 2008, MidAmerican’s CalEnergy subsidiary had yet to break ground on Black Rock as required by its license, and with the economy in free fall as the financial crisis took hold the California Energy Commission granted the company a three-year extension to begin construction.
With that deadline approaching last month, regulators gave CalEnergy another three-year extension after the company cited obstacles ranging from financing and securing a spot on the transmission system to a steam pipe shortage, according to commission records. CalEnergy now has until Dec. 18, 2014 to start putting steel into the ground.
