Google Inc. is partnering with Silver Ridge Power LLC – formerly known as AES Solar – and investing approximately $103 million in the latter's 265.7 MW Mount Signal Solar project. The project, also known as Imperial Valley Solar 1, is a utility-scale solar photovoltaic generating plant under construction in California.
Mount Signal Solar is expected to be fully operational this year and will sell its output to San Diego Gas & Electric Co. under a long-term power purchase agreement. Google's financial obligations are subject to customary conditions, including the commencement of operations at Mount Signal Solar.
‘Our investment in Mount Signal Solar is a reflection of Google's ongoing commitment to the renewable energy industry and our strong belief that investing in renewable energy makes business sense,’ says Kojo Ako-Asare, Google's head of corporate finance.