31 May '13, 4pm

Google invests $260 million in South African solar:

Google invests $260 million in South African solar:

Google will be an equity investor in a consortium putting $260 million into a photovoltaic solar power plant in the fast emerging South African renewables market. On the heels of Secretary of State John Kerry’s call for U.S. investors to look to Africa, Google, Inc. will join California-based solar power plant developer SolarReserve , South Africa’s Kensani Group, and South African renewables developer Intikon Energy with a $12 million buy into the funding for the 96-megawatt Jasper Energy Project. South Africa grew its renewables capacity by 20,000 percent in 2012, faster than any other country in the world. Its total renewables investment last year was $5.5 billion, of which solar got $4.3 billion. Jasper will be one of Africa’s biggest PV solar power plants. It was selected in May 2012 by the South Africa Department of Energy's Renewable Energy Independent Power Produce...

Full article: http://www.greentechmedia.com/articles/read/Google-Invest...

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