Google to invest in solar farms in California and
Arizona
Nov 15, 2013 - Shan Li - latimes.com
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Google is investing in six solar
farms in Arizona and California, including… (Google
Inc. ) |
Google Inc. plans to invest $80 million in six utility-scale
solar facilities in California and Arizona as the
tech behemoth continues to put money toward alternative
energy projects.
The Mountain View, Calif., company will partner
with solar developer Recurrent Energy and private
equity firm KKR & Co. on the projects, which
are estimated to generate enough combined electricity
to power more than 17,000 homes, Google said in a
blog post.
"You'd think the thrill might wear off this
whole renewable energy investing thing after a while," Google
wrote on its official blog. "Nope -- we're still
as into it as ever, which is why we're so pleased
to announce our 14th investment."
In 2011, Google hooked up with KKR and Recurrent
on four solar facilities south of Sacramento that
have since started generating power. The tech giant
said it has committed more than $1 billion in total
on green energy projects around the globe.
The Wall Street Journal, which first reported the
deal, said five of the new solar plants will be located
in Southern California and the sixth will be in Arizona.
Recurrent, based in San Francisco, will act as the
operator and also already reached agreements with
three electricity buyers who will purchase the power
that is generated, the Journal said.
California is one of several states that have mandated
renewable energy targets for its utility companies
-- 33% of its electricity must come from green sources
by 2020. Those mandates combined with the abundant
sunshine makes the state a prime market for solar
companies.
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