Just before Christmas day, Google announced it has made a new $94 million investment in a portfolio of four solar photovoltaic projects currently under construction by Recurrent Energy near Sacramento, CA.
“This investment represents our first investment in the U.S. in larger scale solar PV power plants that
Big news, SF based Recurrent Energy picked up Chicago based UPC Solar‘s pipeline for an as of yet undisclosed amount. It goes to what I mean about not jumping up and down about big announcements: wait until the engineers have plugged the system in!
That said, Recurrent has a great team, and I’m sure they’ll do well – and much like yesterday’s BrightSource announcement, also have strong financial backers in their parent company (Hudson Clean Energy Partners) and Morgan Stanley for debt finance.