• 13 hours Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 13 hours Oil Gains Spur Growth In Canada’s Oil Cities
  • 14 hours China To Take 5% Of Rosneft’s Output In New Deal
  • 15 hours UAE Oil Giant Seeks Partnership For Possible IPO
  • 15 hours Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 16 hours VW Fails To Secure Critical Commodity For EVs
  • 17 hours Enbridge Pipeline Expansion Finally Approved
  • 18 hours Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 19 hours OPEC Oil Deal Compliance Falls To 86%
  • 1 day U.S. Oil Production To Increase in November As Rig Count Falls
  • 2 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 2 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 2 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 2 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 2 days Aramco Says No Plans To Shelve IPO
  • 4 days Trump Passes Iran Nuclear Deal Back to Congress
  • 4 days Texas Shutters More Coal-Fired Plants
  • 5 days Oil Trading Firm Expects Unprecedented U.S. Crude Exports
  • 5 days UK’s FCA Met With Aramco Prior To Proposing Listing Rule Change
  • 5 days Chevron Quits Australian Deepwater Oil Exploration
  • 5 days Europe Braces For End Of Iran Nuclear Deal
  • 5 days Renewable Energy Startup Powering Native American Protest Camp
  • 5 days Husky Energy Set To Restart Pipeline
  • 5 days Russia, Morocco Sign String Of Energy And Military Deals
  • 6 days Norway Looks To Cut Some Of Its Generous Tax Breaks For EVs
  • 6 days China Set To Continue Crude Oil Buying Spree, IEA Says
  • 6 days India Needs Help To Boost Oil Production
  • 6 days Shell Buys One Of Europe’s Largest EV Charging Networks
  • 6 days Oil Throwback: BP Is Bringing Back The Amoco Brand
  • 6 days Libyan Oil Output Covers 25% Of 2017 Budget Needs
  • 6 days District Judge Rules Dakota Access Can Continue Operating
  • 7 days Surprise Oil Inventory Build Shocks Markets
  • 7 days France’s Biggest Listed Bank To Stop Funding Shale, Oil Sands Projects
  • 7 days Syria’s Kurds Aim To Control Oil-Rich Areas
  • 7 days Chinese Teapots Create $5B JV To Compete With State Firms
  • 7 days Oil M&A Deals Set To Rise
  • 7 days South Sudan Tightens Oil Industry Security
  • 7 days Over 1 Million Bpd Remain Offline In Gulf Of Mexico
  • 7 days Turkmenistan To Spend $93-Billion On Oil And Gas Sector
  • 8 days Indian Hydrocarbon Projects Get $300 Billion Boost Over 10 Years
Alt Text

Russia To Become A Leader In Energy Storage

Russia, normally a hub of…

Alt Text

Is This The Missing Link In Lithium Batteries?

Lithium batteries created with asphalt…

Alt Text

Richard Branson To Invest In Elon Musk’s Hyperloop One

Britain’s Virgin Group boss has…

Google Ups the Ante for Renewable Investments

November saw Google Inc. (NASDAQ: GOOG) close in on the $1 billion investment mark in renewable energy with a $75 million equity stake in an Iowa wind farm—this week it soared past that benchmark with a $200 million investment in a Texas wind farm.

Is Google that concerned about our energy future? Certainly not, but renewable energy makes sense for the bottom line of a company that consumes as much energy as 230,000 residences at one time. 

While it consumes as much energy as 230,000 homes, its operational renewable investments have the capacity to produce enough power (2 gigawatts of electricity) to keep 500,000 US homes going every year.

Related Article: Clean Tech Investments Plunged in 2012

Not only does Google need to cut its own energy costs, but its futuristic team also believes that these investments will be profitable down the road as demand for cleaner energy rises.

So the latest renewable investment under its belt is the Spinning Spur Wind Project in Oldham County, Texas. This panhandle wind farm is being developed by EDF Renewable Energy and will have the capacity to produce up to 161 megawatts of electricity once online.

Spinning Spur was completed last month and consists of 70 wind turbines with a 2.3 megawatt capacity each. The project has hit the ground running—construction had begun only in June last year and is already finished. It comes along with a 15-year contract to sell the wind power it generates to Southwestern Public Service Company, owned by Xcel Energy.

Related Article: Obama Faces a Tough Task to Put a Million EVs on the Road by 2015

Spinning Spur represents Google’s second largest single renewable energy investment to date, at $200 million. The largest is SolarCity, in which Google has invested $280 million. The next largest are BrightSource solar project in the Mojave Desert ($178 million) and the Alta Wind Energy Center in Los Angeles ($157 million).

Google has also invested in a number of other renewable projects, including the 7,000-megawatt Atlanta Wind Connection offshore New Jersey and Virginia ($57 million), Shepherd’s Flat, Oregon wind far ($100 million), California’s Recurrent Energy solar ($94 million), and the list goes on from North Dakota to Germany.

By. Jen Alic of Oilprice.com




Back to homepage


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News