Google, Prudential Investing $157 Million in Utah Solar Farm

(Bloomberg) — Google Inc. and a unit of Prudential
Financial Inc. will invest $157 million to build Utah’s largest
solar power project.

The 104-megawatt Red Hills facility is being developed and
will be operated by Scatec Solar ASA, the Oslo-based company
said today in a statement. The plant will sell its power to
PacifiCorp’s Rocky Mountain Power under a 20-year agreement and
is expected to begin operating by the end of the year.

The investment is part of more than $1.5 billion in
renewable investments that Google has agreed to fund. Google is
providing tax equity financing, while Prudential Capital Group
provides debt financing and Scatec contributes sponsor equity
for the $188 million facility.

To contact the reporter on this story:
Ehren Goossens in New York at
egoossens1@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Tina Davis, Steven Frank

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