September 2014 - SunEdison and TerraForm Power announced that Google will provide $145 million in equity financing for the Regulus photovoltaic (PV) power plant located in Kern County, California. The 82-megawatt plant will begin operation later in 2014 and will supply power to Southern California Edison through a 20-year power purchase agreement. TerraForm Power will own the power plant that SunEdison developed, designed, and executed the structured financing for. The plant is being constructed on an abandoned gas and oil field and will be comprised of over 248,000 SunEdison mono-crystalline solar PV modules. Once operational, the plant is expected to produce enough energy to power over 10,000 homes, with CO2 reductions equivalent to not burning 125 million pounds of coal annually.
Additionally, Google has signed agreements to fund over $1.5 billion in renewable energy investments across three continents with a total planned capacity of more than 2.5 gigawatts. The investment in the Regulus plant represents the 17th renewable energy investment project for Google.
News Release - Google Executes $145 Million Investment in Sunedison and Terraform Power's Largest Solar Plant In North America
News Article - Google invests $145 million in Kern County solar project
News Article - Google/SunEdison Mashup Transforms Oil Field To Solar Power
Contacts: Tory Carroll, SunEdison, 619-269-9518 | Eric Raymond, Google, 650-253-3320