Google Invests $38 Million in Renewable Wind Energy
Google recently announced that they’ve made their first direct investment in a renewable wind farm project. The $38 Million that Google has invested will support two wind farms that together generate over 169 megawatts of power, which is enough to fully power more than 55,000 homes.
The wind farms, developed by NextEra Energy Resources, will reside in the North Dakota plains and will transmit energy to homes using existing technologies, reducing the local demand on fossil fuels.
From Google:
To reach a clean energy future, we need three things: effective policy, innovative technology and smart capital. Through our philanthropic arm Google.org, we’ve been pushing for energy policies that strengthen the innovation pipeline, and we’ve been dedicating resources to developing new technologies, including making investments in early-stage renewable energy companies such as eSolar and AltaRock. Smart capital includes not only these early-stage company investments, but also dedicated funding for utility-scale projects. To tackle this need, we’ve been looking at investments in renewable energy projects, like the one we just signed, that can accelerate the deployment of the latest clean energy technology while providing attractive returns to Google and more capital for developers to build additional projects.
Google mentions that they’re looking forward to finding other investment opportunities in renewable energy technologies that “push the envelope for delivering low cost clean energy.” Just another reason it’s a good time to invest in renewable energy companies.
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