Google invests $168 million in solar power pl...

3gzylon 2011-04-13

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Google invests $168 million in solar power plant

16:27, April 12, 2011

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Google Inc. has invested 168 million dollars in one of the world’s biggest solar energy power plants, the company disclosed Tuesday.

The plant, which is being developed by the startup BrightSource Energy in California's Mojave Desert, is supposed to generate 392 gross megawatts (MW) of clean solar energy when it is completed in 2013, enough to supply power to 85,000 homes a year.

"That's the equivalent of taking more than 90,000 cars off the road over the lifetime of the plant, projected to be more than 25 years," Google's director of green business operations Rick Needham said in a blog post.

"The investment makes business sense and will help ensure that one of the world's largest solar energy projects is completed," Needham said.

The Mountain View, California-based Google said the BrightSource investment brings the company's total investment in clean energy projects to 250 million dollars.

Google’s commitment announced Monday is part of the financing that BrightSource Energy needs to build the solar power plant.

BrightSource also has lined up 1.6 billion U.S. dollars in loans guaranteed by the U.S. Department of Energy and a 300 million dollar investment from NRG Energy Inc.

Source: Xinhua