Google, KKR invest $400 million in six U.S. solar power plants

LOS ANGELES Thu Nov 14, 2013 9:06am EST

The Google signage is seen at the company's headquarters in New York January 8, 2013. REUTERS/Andrew Kelly

The Google signage is seen at the company's headquarters in New York January 8, 2013.

Credit: Reuters/Andrew Kelly

LOS ANGELES (Reuters) - Technology giant Google Inc and private equity firm KKR & Co LP are investing $400 million in six solar power plants in California and Arizona.

In a statement, the companies said the plants are being built and sold by Recurrent Energy, a San Francisco developer of utility-scale solar projects that is owned by Japan's Sharp Corp.

The deal is valued at $400 million, according to a Google spokeswoman. That includes equity investments and debt financing from Google and KKR.

The five projects in California and one in Arizona will generate 106 megawatts of electricity, or about enough to power 17,000 homes. They will be in service by January of next year.

(Reporting by Nichola Groom. Editing by Andre Grenon)

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Comments (3)
AlkalineState wrote:
106 MW is not 17,000 homes. It is 50,000 homes.

Average home consumption in America is 2 KW, not 6.

Nov 14, 2013 11:42am EST  --  Report as abuse
EnergySage1 wrote:
It’s encouraging to see influential companies such as Google investing in solar energy. Solar is the future of energy and you don’t have to be as wealthy as the executives at Google to take advantage of it. Indeed, with all of the available incentives and financing options, just about any small business or homeowner can afford it. http://bit.ly/148yg0y

Nov 14, 2013 3:14pm EST  --  Report as abuse
ralphos wrote:
AlkalineState wrote:
106 MW is not 17,000 homes. It is 50,000 homes.
Average home consumption in America is 2 KW, not 6.

Not in the summer in Arizona.

Nov 15, 2013 3:21am EST  --  Report as abuse
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