Four new solar PV facilities to be constructed in the Sacramento area
Posted: 2011-12-20
Google, Kohlberg Kravis Roberts & Co. and Recurrent Energy recently announced their investment in a portfolio to bring four solar photovoltaic facilities to the Sacramento Municipal Utility District, which will receive 88 megawatts of solar power.
"The investment is a clear demonstration of solar's ability to attract private capital from well-established investors like Google and KKR," said Arno Harris, CEO of Recurrent Energy. "This transaction provides an example of the direction solar is headed as a viable, mainstream part of our energy economy."
Construction on three of the solar PV facilities is expected to be completed in early 2012, while the fourth facility will be functioning later that year. The four projects are expected to generate nearly 160 million kilowatt-hours of energy in their first year of operation, which is roughly equivalent to offsetting the electricity consumption of more than 13,000 average homes in the United States.
Showcasing the benefits of solar PV installations, Trina Solar is launching a video with actor and race car driver Patrick Dempsey called "Plug me in, Light me up," which discusses the positive impact solar panels have on the energy grid.