Google Invests In More Solar Power Projects

Google announced last week it would invest in six more utility-scale solar farms; located in California and Arizona.
  
The investment will be made in partnership with KKR (Kohlberg Kravis Roberts & Co. L.P. )  and the facilities will be developed by Recurrent Energy.
  
“Google and KKR’s continued partnership with Recurrent Energy showcases their strong commitment to a clean energy future,” said Arno Harris, CEO of Recurrent Energy. “Their leadership in clean energy investment further validates solar as an integral part of our energy economy.”
  
All six solar panel based projects are expected to be operational by early 2014 and collectively the 160MW capacity will provide enough clean electricity to power more than 17,000 U.S. homes. The solar farms will export electricity to local utilities under long-term Power Purchase Agreements (PPAs).
   
The 14th renewable energy investment by Google; the company has committed over $1 billion to renewable energy to date. Other Google investments include:
  
– $103 million in the Mount Signal Solar project
– 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
  
“These investments are all part of our drive toward a clean energy future—where renewable energy is abundant, accessible and affordable,” says Kojo Ako-Asare, Head of Corporate Finance at Google.