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Google, KKR and Recurrent Energy to build solar plants

Staff writer ▼ | November 18, 2013
Google and KKR are to invest in six utility-scale solar facilities located throughout California and Arizona, in what will be the company's 14th renewable energy investment.
Solar panels
Solar panelsGoogle and KKR are to invest in six utility-scale solar facilities located throughout California and Arizona, in what will be the company's 14th renewable energy investment.


Google, KKR and Recurrent Energy will build facilities with a combined capacity of 106 MW and upon completion will generate enough electricity to power over 17,000 average US homes.

"Google and KKR's continued partnership with Recurrent Energy showcases their strong commitment to a clean energy future. Their leadership in clean energy investment further validates solar as an integral part of our energy economy," said Arno Harris, CEO of Recurrent Energy.

Google have already invested over $1 billion into renewable energy projects around the world, describing them as "all part of our drive toward a clean energy future—where renewable energy is abundant, accessible and affordable."

“By continuing to invest in renewable energy projects, purchasing clean energy for our operations and working with our utility partners to create new options for ourselves and for other companies interest in buying renewable energy, we're working hard to make that future a reality,” said Kojo Ako-Asare, Head of Corporate Finance on the Google Blog announcement.

"Investing in renewable energy is core to Google's values-we believe strongly in making investments that are both good for the environment and good for business. We're proud to continue our partnership with KKR and Recurrent Energy by investing in these fantastic solar facilities. We're proud to continue our partnership with KKR and Recurrent Energy by investing in these fantastic solar facilities," said Mr. Ako-Asare.

The six solar plants will provide electric power to nearby local utilities and municipal offtakers under long-term Power Purchase Agreements, with AP noting that Southern California Edison will be among the utilities involved. AP reported that the investment is worth $400 million.


 

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