Google invests US$94m in four solar projects
Online search and advertising giant Google is investing US$94m in four solar energy farms near Sacramento, California, in partnership with investment firm Kohlberg Kravis Roberts & Co (KKR). It will also receive equity from SunTap Energy RE LLC, a venture formed by KKR to invest in US solar projects.
The projects are expected to supply power to the equivalent needs of 13,000 average US homes. Google has contracted power output of three projects for 20 years with the utility district.
Construction on three of the four projects will be completed early next year with the fourth entering service later in the year.
The latest investment brings Google investments in clean energy projects to US$915m.
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