We recently finalized an investment that will put a 82MW solar power plant on top of an old oil and gas field in Kern County, Calif. The new deal with SunEdison will generate enough energy to power 10,000 homes.
Our investment in the Regulus solar project will give new life to a long-valued piece of land, and there’s something a little poetic about creating a renewable resource on land that once creaked with oil wells. Over the years, this particular site in California has gone from 30 oil wells to five as it was exhausted of profitable fossil fuel reserves. The land sat for some time and today we’re ready to spiff things up. With the help of our $ 145 million equity commitment, SunEdison is draping it in high-tech, sleek panels that collect energy from the sun, while bringing 650 jobs to the Kern County area and 82MW of clean energy to the grid.
Like many states, California has a goal of increasing the amount of energy procured from renewable sources. This project helps support that quest and marks 17 renewable energy investments for Google since 2010, including five here in the Golden State.
We’re continually looking for newer, bigger and better projects that help us create a clean energy future. The more than $ 1.5 billion we’ve brought to these projects to date not only helps provide renewable energy to the grid and to the public, but as they perform, they allow us to invest in more renewable energy projects. This cycle makes financial sense for Google and our partners while supporting construction jobs in local communities and clean energy for the planet we share.