Google to invest in Silver Ridge Power solar project
Google Inc. will invest about $103 million in a California solar power project owned by Arlington-based Silver Ridge Power LLC.
With the investment, Google, based in Mountain View, Calif., will become a partner in the 265.7 megawatt Mount Signal Solar project.
The project, also known as Imperial Valley Solar 1, is a utility-scale solar photovoltaic generating plant under construction in Imperial County, California.
Solar is expected to be fully operational next year. It will sell its power to San Diego Gas & Electric Company under a long-term power purchase agreement.
Silver Ridge Power formerly was known as AES Solar. Its portfolio now totals approximately 522 megawatts in operation or construction in seven countries.
Mount Signal Solar is Google’s 13th renewable energy investment. In total, the company has committed over $1 billion to projects that will enable the generation of enough electricity to power more than 500,000 homes.
Silver Ridge Power is a joint venture between AES Corp. and Riverstone Holdings, LLC formed to develop, own and operate utility-scale solar power plants.