Google Inc. (NASDAQ:GOOGL) promise to focus on renewable sources of energy is set to come reality for the people of Kern County in California after the company announced plans invest in an 82MW solar power plant in the area. The investment will allow Sunedison Inc. (NYSE:SUNE) provide solar energy for over 10,000 homes in the greater Kern County. According to the company’s official blog, the project is set to cost approximately $145 million.
The area has for some time been neglected having been’ depleted of its precious oil reserves that formed the epitome of the economy. Overtime, the oil wells in the area, have shrunk from 30 to mere five, considerably reducing the value of a the land in the area. Google investment in the Regulus solar project is expected to give the area a new lease of life, which should enable the local economy grow once again.
Google Inc. (NASDAQ:GOOGL) investment will also see the creation of 650 new jobs for people in the area sure to boost the economy of Kern County. The investment deal with Sunedison Inc. (NYSE:SUNE) will also help to support the state of California’s quest to increase the amount of clean energy in the area through alternative sources, such as solar and wind energy. The Regulus solar project is not the first one that Google Inc. (NASDAQ:GOOGL) has invested in but the 17th since 2010 and the fifth one in Golden state clearly highlighting Google promise of developing alternative sources of energy in the country.
Google has reiterated that it is always in constant pursuit of projects that are always sure to impact the way of life of people while remaining conscious of the environment. Up to date, the giant search engine has reportedly spent over $1.5 billion in bringing similar project to life. Google Inc. (NASDAQ:GOOGL) has also stated that the project makes financial sense considering the impact it will have on local communities, especially in terms of jobs creation, as well as a reliable supply of energy.