The projects reaching commercial operation are part of a four-project portfolio, three of which were the first to be awarded through SMUD’s FIT program, introduced in January 2010. The fourth project is currently under construction and is expected to reach commercial operation later this year.
The projects secured a significant investment in December 2011 from Google (Nasdaq: GOOG) and SunTap Energy RE LLC, a venture formed by Kohlberg Kravis Roberts & Co. L.P. (KKR) to invest in solar projects in the U.S.
Recurrent Energy is a leading solar project developer marketing clean power to utilities and large energy users. The company is meeting rising energy demand by building a portfolio of clean power plants located where they are needed most. Recurrent Energy is a U.S. subsidiary of Sharp Corporation.