Google Inc. (GOOG) and Kohlberg, Kravis, Roberts & Co. (KKR), or KKR, agreed to finance Sacramento, CA-located solar photovoltaic facilities currently under development by Sharp Corp. (SHCAY.PK) subsidiary Recurrent Energy. The four projects are expected to provide 88 megawatts, or MW, of power to the Sacramento Municipal Utility District, and three of the projects may go online by early 2012.
The financing is expected to be a combination of debt and equity, with Google anticipated to make a "significant" equity investment, while KKR may provide equity through a newly launched investment venture dubbed SunTap Energy RE LLC. Recurrent Energy's CEO Arno Harris said "The investment is a clear demonstration of solar's ability to attract private capital from well-established investors like Google and KKR. This transaction provides an example of the direction solar is headed as a viable, mainstream part of our energy economy."
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.