Google, KKR, and Recurrent Energy announced today in both New York and San Francisco that they will make an investment in six solar photovoltaic facilities that are currently being developed by Recurrent Energy. So what does this news mean for the energy sector? In my previous blog, I wrote about Wall Street’s interest in sustainable investment.
These solar facilities will be in California and Arizona where solar facilities have already been making a strong standing. This is especially important in California as the state is a standout in sustainable developments in terms of regulations and policies.
Overall Google has several renewable energy investments totaling over $1 billion dollars. This is a strong statement to the other players in the field that Google is a key player in renewable energy in California. The partnership will provide for google the much needed energy source that its company depends on while also bringing the KKR firms wealth and recognition. Personally I believe that this kind of collaboration between the provider, the consumer, and the market finance expert will occur more and more often.
Info obtained via: http://ir.kkr.com/media/media_releasedetail.cfm?ReleaseID=807427