Google to invest in two wind power plant 38.8 million U.S. dollars

May 4, 2010


Google to invest in two wind power plant 38.8 million U.S. dollars

according to foreign media reports that Google has north Dakota, two wind power invested 38.8 million U.S. dollars, and this is the first direct investment in the Internet giant utility-scale renewable energy.

The Mountain View, California-based company said Monday in the official blog of its wind power investments by FPL Group, Energy Resources subsidiary NextEra built, these power stations, wind turbines produced by General Electric, can produce 169.5 megawatts of electricity, enough to power more than 55,000 families.

This investment marks the first investment Google has changed the practice of renewable energy, Google is concerned that the original investment at an early stage renewable energy companies, such as BrightSource Energy, eSolar and AltaRock so, these companies are in the development of new solar, wind and geothermal power generation.

Google said it would direct investment in energy projects, speed up the recent deployment of clean energy technologies, while offering attractive returns and developer for the construction of other projects to raise funds. Google’s Green Business Operations Manager Rick Needham, said: “Our goal is to accelerate the deployment of renewable energy – in a commercially meaningful way.”

Google’s investment in wind power stations is “tax equity” investment in the form of, in this way, investors took over a project, the project was to use federal tax credits to offset their own tax payable in return.

NextEra company said it had sold two wind power stations worth about 1.9 billion Class B shares, Google shares about 20%. But the company did not immediately disclose the names of other investors.

Be enacted in accordance with California laws, the power sector are required before the end of the sale of electricity there must be 1 / 5 for the electricity provided by renewable energy by 2020 this proportion will increase to 1 / 3. According to the U.S. Department of Energy said that the United States had 31 states and Washington, DC, the development of renewable energy requirements and goals. Department of Energy also revealed that the U.S. electricity supply in 2008 is about 7% from renewable energy sources, of which about 7% from wind.

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