Tuesday, September 29th, 2020
Home » Development » Google making largest corporate purchase of renewable energy ever

Google making largest corporate purchase of renewable energy ever

PortandTerminal.com, September 23, 2019

In what is being called as the single largest corporate purchase of renewable energy infrastructure, Google has just announced that they will be spending $2 billion on more solar and wind projects around the world.

According to a new blog post from the tech company, the initiative is projected to expand their renewable energy portfolio by 40%—or 5,500 megawatts (equivalent to the capacity of a million solar rooftops).

The new investment is not about buying power from existing wind and solar farms but instead will make long-term purchase commitments that result in the development of new projects.

The investments will collectively fund 18 new energy projects ranging from building solar farms in Texas to wind turbines in Sweden. In total, this brings the company’s fleet of renewable energy to 52 global projects, which is “driving more than $7 billion in new construction and thousands of related jobs.”

“We’ve been a carbon-neutral company since 2007,” wrote Google CEO Sundar Pichai. “In 2017, we became the first company of our size to match our entire annual electricity consumption with renewable energy (and then we did it again in 2018). As a result, we became the largest corporate buyer of renewable energy in the world.

“Once all these projects come online, our carbon-free energy portfolio will produce more electricity than places like Washington D.C. or entire countries like Lithuania or Uruguay use each year,” Pichai added.

Related articles

Copyright © 2019 PortandTerminal.com. All rights reserved. This material may not be published, broadcast, written or redistributed.

Check Also

Offshore wind farm

Trump’s Offshore Oil Ban to Hurt Coastal Wind Farms Too

BLOOMBERG, September 28, 2020 Leasing ruled out in waters off Florida, Georgia and Carolinas | …


Trump-backed Canadian railway to Alaska could free landlocked oil

REUTERS, SEPTEMBER 28, 2020 WASHINGTON/WINNIPEG, Manitoba (Reuters) – A private-sector proposal endorsed by U.S. President …