22 Dec '11, 10pm

Google Invests $94 Million in Four California Solar Farms

Google Invests $94 Million in Four California Solar Farms

Google may have powered down its efforts to make renewable energy cheaper than coal, but the Silicon Valley juggernaut is still investing big in green power. Google said this week that it is making a $94-million equity investment in four solar photovoltaic installations being constructed by Recurrent Energy for the Sacramento Municipal Utility District. The projects near Galt and Elk Grove in southern Sacramento County will provide 88 megawatts of power to the utility. Kohlberg Kravis Roberts & Co. LP is joining Google and Recurrent Energy in the deal by providing the balance of the equity investment through its new venture, SunTap Energy, which KKR formed to invest in U.S solar projects. The investment in the Sacramento area installations is a first for KKR and a first for Google, which previously had concentrated on projects to bring solar power to the rooftops of homes ...

Full article: http://www.greenbiz.com/news/2011/12/22/google-invests-94...

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