International Automated Systems (fka IAUS)

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

LOS ANGELES Thu Nov 14, 2013 2:06pm GMT
http://uk.reuters.com/article/2013/11/14/us-google-kkr-solar-idUKBRE9AD0QZ20131114?feedType=nl&feedName=uktechnology

(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)


http://uk.reuters.com/article/2013/11/14/us-google-kkr-solar-idUKBRE9AD0QZ20131114?feedType=nl&feedName=uktechnology