Google, TransCanada set to buy solar plants

Google and private equity firm KKR & Co. are negotiating the purchase of four solar power plants from Recurrent Energy, which is owned by Sharp Corp

December 20, 2011 — Google is upping its stake in solar energy and TransCanada is taking its first steps into the sector as well. Both companies announced plans to purchase solar power projects December 20.

Google and private equity firm KKR & Co. are negotiating the purchase of four solar power plants from Recurrent Energy, which is owned by Sharp Corp.

The plants have a total capacity of 88 MW. The deal, whose financial terms were not disclosed, brings Google's total investment in the sector to more than $915 million.

TransCanada's first deal in the solar sector is a $470 million payment to Canadian Solar, which is building nine projects in the province of Ontario, where feed-in-tariffs guarantee a higher-than-market price for electricity generated.

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