Google Invests In Californian Solar Power Plant

US tech giant Google Inc. has agreed to provide US145 million in equity financing for the "Regulas Power Plant Project". The 737-acre 82 MW DC solar photovoltaic power plant is in construction on an abandoned gas and oil field in Kern count, California, and will be comprised of over 248,000 SunEdison mono-crystalline solar PV modules.This is the US tech giant's 17th renewable energy project, and put the company's clean energy investment at more than 1.5 billion, and totaling a capacity of more than 2.5GW, across three continents.Google renewable energy principal Nick Coons said: "This project with SunEdison presented an opportunity to take an old gas and oil field and turn it into a clean energy producing solar site. It made sense to support it on multiple levels."SunEdison has developed, designed and executed the structured financing for the Regulus project, which is slated to commence operations later in 2014.SunEdison North America president Bob Powell said: "From developing the technology, to constructing the facility, to establishing mutually beneficial financial partnerships with leaders like Google, Prudential and Santander Bank, N.A., Regulus is a prime example of how SunEdison's end-to-end approach benefits everyone involved in a solar project.That we've already made such progress on a project that broke ground in December 2013 is a testament to the speed and efficiency of our process."This 82MW Regulus solar project in Kern County in California will generate enough electricity to power 10,000 homes and support around 650 jobs. The plant can reduce CO2 emissions equivalent to not burning 125 million pounds of coal annually.

Reference: alt-energy-solutions.blogspot.com