As sustainable energy is becoming more of a realistic choice in solving energy issues, new companies hoping to provide such energy sources are establishing. Of course, in order for these businesses to succeed, funding and investments from reputable companies can help push businesses into completion. Joint venture agreements are often made between big name companies who believe start-up businesses have potential to produce a viable product.

Technology giant Google has recently agreed to invest over $100 million in a California company working on producing sustainable energy. The company, Silver Ridge Power, is currently under construction but is estimated to be operational next year. This business is reportedly working with solar power to produce an energy source.

According to reports, Google was interested in investing with the company because they believe it to be a good business venture. A representative stated that Google has a strong interest in and commitment to renewable energy, and the company has already invested in 12 other renewable energy sources. Silver Ridge Power in particular could potentially provide energy to approximately 80,000 homes in California.

Investment agreements can go a long way in helping an emerging business to succeed. Money must often be spent before it can be made, and significant backing from thriving companies such as Google can better ensure that the costs associated with new companies does not overwhelm them. It is important to understand, however, what such backing and investments could mean legally for the company. Information on California laws dealing with joint venture agreements and other business practices could help concerned parties ensure they are moving in the right direction.

Source: pv-tech.org, Google pumps US$103 million into California solar farm, John Parnell, Oct. 11, 2013