Google invests $94 mn in solar energy

  • Google invests $94 mn in solar energy

    Houston: Online search and advertising giant Google is making a USD 94 million investment in four solar energy farms near Sacramento in California in partnership with investment firm Kohlberg Kravis Roberts & Co, bringing the company's portfolio of clean energy projects to almost USD 1 billion.

    Google, on its Green Blog, said that it will spend USD 94 million on the projects.

    They also will receive equity from SunTap Energy RE LLC, a venture formed by KKR to invest in US solar projects.

    The projects are expected to provide electricity to power more than 13,000 average US homes.

    webmasters comment:

    corporations realized quite quickly that it doesn't make sense to pay higher costs of electricity from the grid, when you can generate your own. This trend is set to continue.