Google Teams Up with SunTap to Tap Into Solar Energy
Two investors have come together to buy into a portfolio of solar photovoltaic facilities which serve the Sacramento Municipal Utility District.
A significant equity investment came from Google (NASDAQ:GOOG), as did equity from SunTap Energy RE LLC (Suntap). Suntap is a new entity formed by Kohlberg Kravis Roberts & Co (NYSE:KKR) for investing in solar projects in the U.S.
Though the portfolio would be financed by a combination of debt and equity, terms of the transaction were not made available.
Here’s how Google and KKR are trading on the news: