(Reuters) - Google Inc and TransCanada Corp announced deals to buy solar power projects on Tuesday, only days after billionaire Warren Buffett done his second vital squeeze in a sector.
Prices for solar panels have depressed some-more than 40 percent this year, pulling a cost to implement a renewable appetite systems to their cheapest levels ever.
But solar row makers have struggled as a cost decrease eroded distinction margins for a nascent industry, pushing share prices opposite a zone neatly lower.
Google is teaming adult with private equity organisation KKR & Co to buy 4 solar plants in California with a sum ability of 88 megawatts from developer Recurrent Energy, that is owned by Sharp Corp.
The deal, whose financial terms were not disclosed, brings Google's sum investment in a zone to some-more than $915 million.
Solar installations in a United States have reached record levels this year, with some-more than 1,000 MW commissioned by a initial 9 months of a year, about equal to a outlay of a vast chief reactor.
Meanwhile, TransCanada, whose efforts to build a Keystone XL tube joining a Canadian range of Alberta's oil sands fields to a U.S. Gulf Coast have been behind by a Obama administration, announced a initial understanding in a solar sector.
The association pronounced it would compensate $470 million to Canadian Solar, that will build 9 projects in Ontario. Solar plants in that range accept a "feed-in tariff" that guarantees a higher-than-market cost for a electricity produced.
Shares of Canadian Solar rose 29 percent to $2.85 in premarket trading, while Google gained 0.8 percent to $626.88.
Last week, Buffett's energy company, MidAmerican Energy Holdings, pronounced it would buy a 49 percent interest in a 290 MW Agua Caliente plant in Arizona from NRG Energy.
That followed MidAmerican's squeeze a week progressing of a 550 MW Topaz solar plan from First Solar, that is also building a Agua Caliente plant.
(Reporting By Matt Daily in New York and Aftab Ahmed, Vaishnavi Bala and Supantha Mukherjee in Bangalore)
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