Google’s renewable energy portfolio just became substantially bigger with the addition of an investment in Silver Ridge Power’s Mount Signal Solar project.
The project, also known as Imperial Valley Solar 1, is a 265.7MW PV based facility currently under construction in Imperial County, California.
The project will be one of the largest single-axis tracker solar power plants in the world and incorporate 3.1 million photovoltaic solar panels. Electricity generated by the plant will be purchased by San Diego Gas & Electric. Mount Signal will supply electricity equivalent to the needs of 80,000 California households.
“Our investment in Mount Signal Solar is a reflection of Google’s ongoing commitment to the renewable energy industry and our strong belief that investing in renewable energy makes business sense,” said Kojo Ako-Asare, Google’s Head of Corporate Finance.
This is Google’s thirteenth renewable energy investment. To date, Google has committed to over $1 billion to clean energy projects that will in total generate enough electricity to power half a million homes.
Other renewable energy projects Google has invested in include:
– the Makani Airborne Wind Turbine
– Alta Wind Energy Center
– a solar farm in Germany
– the Atlantic Wind Connection
– a 114 megawatt wind farm in Iowa
– a USD$280 million fund to finance residential solar power installations.
– $75 million in Clean Power Finance
– $168 million in Ivanpah Solar Electric Generating System
– $100 million investment in the Shepherds Flat Wind Farm in Oregon
– $38.8 million stake in two wind farms in North Dakota
– $94 million in a portfolio of four solar farms in California
– $12 million stake in the Jasper Power Project
Silver Ridge Power (formerly known as AES Solar) is certainly no stranger to utility scale solar projects either; having a global portfolio of approximately 51 plants representing 522 MW capacity in operation or under construction in seven countries.
“We are pleased to have a world-class partner in Google on our flagship Mount Signal Solar project. We are on schedule to complete the project in 2014 and when completed it will be one of the largest single-axis tracker PV plants in the world,” said Robert Hemphill, CEO of Silver Ridge Power.
