Google Inc (GOOG) Puts $80 Million Into 6 Solar Energy Plants

Posted Nov 14, 2013

Google is investing $80 million in six solar plants in California and Arizona.  Google Inc (NASDAQ:GOOG) said that this will provide enough electricity for 17,000 homes in the U.S.  This is Google’s fourteenth investment in renewable energy.  Google has put in over $1 billion behind solar and wind projects since April 2010. Google is working with investment company Kohlberg Kravis Roberts (KKR) in the venture.  The plants are being developed by Recurrent Energy.

The projects have a combined capacity of 106 megawatts.  A coal power station produces 600 to 700 megawatts and a nuclear power plant outputs around 900 to 1,300 megawatts. Google receives 33% of their energy from renewable sources, but is hoping to hit 100% eventually.

“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,” stated Google head of corporate finance Kojo Ako-Asare.