Google expands renewable energy portfolio with $80m solar investment
Tech giant Google has announced an $80m (£50m) investment in six utility-scale solar facilities in California and Arizona.
With a combined capacity of 106MW, the six-project portfolio is expected to be operational by early 2014 and will generate enough electricity to power more than 17,000 US homes.
In a blog post, Google's head of corporate finance Kojo Ako-Asare, said: "You'd think the thrill might wear off this whole renewable energy investing thing after a while. Nope--we're still as into it as ever".
Google will be partnering with global investment firm KKR to invest in the projects, with solar developer Recurrent Energy, who has worked on some of Google's other renewables projects, carrying out the development.
Committing more than $1bn in total to renewable energy projects around the world, this latest plan follows a similar venture in 2011, when the company invested $94m in four solar facilities near Sacramento, California.
Ako-Asare said: "These investments are 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," he added.