Where is Google Nest Going? Google Invests $145 Million in 82-MW SunEdison Project! Funds Over $1.5 Billion in Renewable Energy in Three Continents!

GoogleGoogle Invests $145 Million in 82-MW SunEdison Project. SunEdison and TerraForm Power announced that Google will provide $145 million in equity financing for the Regulus photovoltaic (PV) power plant located in Kern County, California. The 82-megawatt plant will begin operation later in 2014 and will supply power to Southern California Edison through a 20-year power purchase agreement. TerraForm Power will own the power plant that SunEdison developed, designed, and executed the structured financing for. The plant is being constructed on an abandoned gas and oil field and will be comprised of over 248,000 SunEdison mono-crystalline solar PV modules. Once operational, the plant is expected to produce enough energy to power over 10,000 homes, with CO2 reductions equivalent to not burning 125 million pounds of coal annually.

Additionally, Google has signed agreements to fund over $1.5 billion in renewable energy investments across three continents with a total planned capacity of more than 2.5 gigawatts. The investment in the Regulus plant represents the 17th renewable energy investment project for Google.

Source: The Green Power Network (GPN) provides news and information on green power markets and related activities. The site provides up-to-date information on green power providers, product offerings, consumer protection issues, and policies affecting green power markets. It also includes a reference library of relevant papers, articles and reports. The Green Power Network is operated and maintained by the National Renewable Energy Laboratory for the U.S. Department of Energy.

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