Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Google and KKR Acquire Recurrent Solar Projects in U.S. West

Nov. 14 (Bloomberg) -- Google Inc. and KKR & Co. agreed to acquire six solar farms that Sharp Corp.’s Recurrent Energy unit is developing in California and Arizona in a deal worth $400 million.

The six projects have a combined capacity of 106 megawatts and are expected to be operational by January, according to a statement today.

Google and KKR are providing both equity and debt financing for five projects in Southern California and one in Arizona that will produce enough power for more than 17,000 homes.

Google said it will provide about $80 million, in a blog post today. The total transaction is worth $400 million, according to a person familiar with the deal who asked not to be identified because the transaction value hasn’t been disclosed.

Google has invested more than $1 billion to date in renewable energy; this is its 14th such deal, according to the statement. KKR has made five renewable-energy investments.

The three companies struck a similar agreement in December 2011 involving four of San Francisco-based Recurrent’s projects near Sacramento.

To contact the reporter on this story: Will Wade in New York at wwade4@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.