Google to invest $300 million in SolarCity project# Stock
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Google Inc. (GOOG) is investing $300 million into a fund used by SolarCity
Corp.(SCTY) to install residential solar-power units, reports said Thursday.
The funds will cover almost half of the $750 million program to finance 25,
000 residential solar projects, USA Today said. SolarCity(SCTY) installs the
units for free and then charges owners "lightly less per month for the
energy than they'd pay their traditional utility," the Washington Post
reported. Google(GOOG) invested $280 million in SolarCity(SCTY) in 2011, and
the Washington Post report noted that earlier this month, Google(GOOG)
rival Apple Inc.(AAPL) said it would plow $848 million into a solar-power
farm to be used to supply electricity to some of its offices and stores. "We
're happy to support SolarCity's(SCTY) mission to help families reduce their
carbon footprint and energy costs," the report quoted Google(GOOG)
renewable-energy principal Siddharth Mundra as saying in a statement.
-Michael Kitchen; 415-439-6400; [email protected]
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(END) Dow Jones Newswires
02-26-152116ET
Copyright (c) 2015 Dow Jones & Company, Inc.
Corp.(SCTY) to install residential solar-power units, reports said Thursday.
The funds will cover almost half of the $750 million program to finance 25,
000 residential solar projects, USA Today said. SolarCity(SCTY) installs the
units for free and then charges owners "lightly less per month for the
energy than they'd pay their traditional utility," the Washington Post
reported. Google(GOOG) invested $280 million in SolarCity(SCTY) in 2011, and
the Washington Post report noted that earlier this month, Google(GOOG)
rival Apple Inc.(AAPL) said it would plow $848 million into a solar-power
farm to be used to supply electricity to some of its offices and stores. "We
're happy to support SolarCity's(SCTY) mission to help families reduce their
carbon footprint and energy costs," the report quoted Google(GOOG)
renewable-energy principal Siddharth Mundra as saying in a statement.
-Michael Kitchen; 415-439-6400; [email protected]
/* */
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
02-26-152116ET
Copyright (c) 2015 Dow Jones & Company, Inc.