Google Invests in Two Wind Farms
Google Inc. (GOOG) has invested $38.8 million in two North Dakota wind farms, the Internet giant’s first direct investment in utility-scale renewable energy generation.
The Mountain View, Calif., company said in a Monday blog post that it invested in wind farms built by NextEra Energy Resources, a unit of FPL Group Inc. The wind turbines, made by General Electric Co. (GE), generate 169.5 megawatts of power, enough to serve more than 55,000 homes.
The investment marks a departure from Google’s initial approach to renewable energy, which focused on investing in early-stage renewable energy companies such as BrightSource Energy, eSolar and AltaRock, which are developing new solar, wind and geothermal power technologies.
Google said it is investing directly in energy projects to accelerate the deployment of the latest clean energy technology, while providing attractive returns to Google and more capital for developers to build additional projects.