Photo: Recurrent Energy

Recurrent lands equity from Google, KKR for 88MW of solar

Recurrent Energy, the PV project development unit of Sharp, has landed "significant" equity investments from Google and a subsidiary of global investment giant Kohlberg Kravis Roberts (KKR) in an 88MW California solar PV portfolio.

20 December 2011 19:22 GMT Updated 23 September 2016 12:29 GMT

By Benjamin Romano

Google and a new KKR venture, SunTap Energy RE, are investing in four projects under development by Recurrent.

The output of the portfolio is contracted to the Sacramento Municipal Utilities District (SMUD) under a feed-in tariff the utility launched in 2010.

All four projects are slated to come online in 2012 and are financed with both equity and debt. Google says it is investing $94m of equity.

SunTap

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Recurrent lands equity from Google, KKR for 88MW of solar