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
was
established
with
a
$95m
equity
line,
an
undisclosed
portion
of
which
is
tapped
for
the
Recurrent
investment
with
the
balance
to
be
used…
