Google, KKR to invest about $400 mln in six solar plants - WSJ

Reuters

Nov 14 (Reuters) - Google Inc struck a deal withprivate equity company KKR & Co to invest about $400million in six solar power plants being built by RecurrentEnergy LLC in California and Arizona, the Wall Street Journalreported, citing people familiar with the matter.

Google and KKR's joint investment will be made in cash anddebt. Google's equity stake is about $80 million, according tothe newspaper.

The plants - five in southern California and one in Arizona- are designed to produce about 106 megawatts of electricitycombined, or enough to power about 17,000 U.S. homes, theJournal said. ()

Google has been investing in clean energy for purposesincluding powering its data centers and has committed over $1billion to wind and solar projects.

KKR runs an operational improvement program known as GreenPortfolio Program (GPP) through which the private equity firmassesses the environmental impact of its portfolio companies.

Recurrent Energy is a unit of Japan's Sharp Corp.

Google and KKR could not immediately be reached for commentby Reuters outside of regular U.S. business hours.

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