Google Puts Millions in Wind Farms

On Friday we made our first direct investment in a utility-scale renewable energy project — two wind farms that generate 169.5 megawatts of power, enough to power more than 55,000 homes. These wind farms, developed by NextEra Energy Resources, harness power from one of the world’s richest wind resources in the North Dakota plains and use existing transmission capacity to deliver clean energy to the region, reducing the use of fossil fuels. Through this $38.8 million investment, we’re aiming to accelerate the deployment of renewable energy — in a way that makes good business sense, too.

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 Official Blog