Google has continued its multimillion-dollar push into the renewable energy market, after agreeing to invest approximately $103 million in the 265.7 megawatt Mount Signal Solar project in California.
Solar developer Silver Ridge Power announced last week that Google had become a partner in the project, which is currently under construction in Imperial County and is expected to become fully operational next year. The project already has a long-term power purchase agreement in place, which will see power generated by the facility sold to the San Diego Gas & Electric Company.
The deal represents Google's 13th investment in a utility scale renewable energy project -- an investment push that has seen it plough more than $1 billion into projects totaling more than 2 gigawatts of capacity.
Kojo Ako-Asare, Google's head of corporate finance, said the latest deal was a reflection of the company's "ongoing commitment to the renewable energy industry and our strong belief that investing in renewable energy makes business sense."
He also provided a strong indication that the trend would continue.
"This is the first time Silver Ridge Power has partnered with a technology company; we appreciate their innovative approach and we hope to see more such partnerships in the future," he said.
Mount Signal solar project image courtesy of Google.