Environmental Technology, News

Internet giant Google makes first investment in US wind industry

Internet search leader Google has made its first direct investment in the US wind power industry, taking an equity stake in two North Dakota wind farms developed by NextEra Energy Resources that power more than 55,000 homes.

Financial details were not released, Recharge reports.

“Through this $38.8m investment, we’re aiming to accelerate the deployment of renewable energy in a way that makes good business sense, too,” Rick Needham, green business operations manager at Google, wrote in a blogpost. The two wind farms generate a combined 169.5 megawatts.

The company had earlier made investments in BrightSource Energy, eSolar and AltaRock, a geothermal developer based in Sausalito, California.

Needham writes that in Google’s view, the US needs “effective policy, innovative technology and smart capital” to reach a clean energy future.

“Through our philanthropic arm Google.org, we’ve been pushing for energy policies that strengthen the innovation pipeline,” he adds. “Smart capital includes not only these early-stage company investments, but also dedicated funding for utility-scale projects.”