Google announced last month that it had invested $94 million in four solar photovoltaic (PV) projects with a generating capacity of 88MW and the potential to supply electricity to 13,000 homes being built by Recurrent Energy near Sacramento, Calif. This investment brings the company's portfolio of clean energy investments to more than $915 million.

In a blog posting announcing the deal Google said, “We're investing alongside global investment firm KKR and Recurrent Energy, a leading solar developer. Google will provide a $94 million equity investment and SunTap Energy, a new venture formed today by KKR to invest in solar projects in the U.S., will provide the remaining equity. We're joining KKR on their first renewable energy investment in the U.S. We believe investing in the renewable energy sector makes business sense and hope clean energy projects continue to attract new sources of capital to help the world move toward a more sustainable energy future.”

Want to use this article? Click here for options!
© 2007 Penton Media, Inc.