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A subsidiary of Sempra Energy (SRE) recently became an equal partner of a BP Plc. (BP) unit for developing a 200MW Fowler Ridge II Wind Farm in Benton County, Indiana.

The Fowler Ridge joint venture is currently under construction on a 17,000-acre site, about 90 miles northwest of Indianapolis and is expected to be operational in the first quarter of fiscal 2010. The 200MW facility will produce enough electricity for nearly 60,000 homes.

Here’s a tricky question: should the average electric utility customer pay higher rates so that people who install solar systems can sell power back to the grid?

As the economy begins its comeback, the utilities companies that will benefit the most are the ones whose stock prices have suffered for being located in poor housing markets and those with significant counter-party risk. These companies lack the stability an investor looks for in utilities companies during a time of economic hardship. However, as the economy begins its turn around, these investments will once again become attractive.

Delaware has long been home to a wide range of corporations, and according to the state’s own site, over 60% of the Fortune 500 are incorporated in the state, even though the vast majority are technically based somewhere else.

First Solar (FSLR) shares are higher this morning after the company announced a deal to build a 48 MW ground-mounted photovoltaic power plant for Sempra Generation, a unit of Sempra Energy (SRE), expanding a 10 MW plant First Solar built for Sempra in 2008 near Boulder City, Nevada.

First Solar will design, engineer and built the plant, with construction to start this year; when completed in 2010, the 58 MW project will be the largest solar power plant in North America.

The facility is adjacent to an existing 480 MW power plant, about 40 miles southeast of Las Vegas.