Google involved in solar initiative

Google Inc and Kohlberg, Kravis, Roberts & Co. or KKR, agreed to finance Sacramento, CA-located solar photovoltaic facilities currently under development by Sharp Corp subsidiary Recurrent Energy.

The four projects are expected to provide 88 MW, of power to the Sacramento Municipal Utility District, and three of the projects may go online by early 2012.

Google are anticipated to make a “significant” equity investment.

Recurrent Energy’s CEO Arno Harris said “The investment is a clear demonstration of solar’s ability to attract private capital from well-established investors like Google and KKR. This transaction provides an example of the direction solar is headed as a viable, mainstream part of our energy economy.”

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