• 2 minutes Oil Price Could Fall To $30 If Global Deal Not Extended
  • 5 minutes Middle East on brink: Oil tankers attacked off Oman
  • 8 minutes CNN:America's oil boom will break more records this year. OPEC is stuck in retreat
  • 4 hours California and Oil
  • 9 mins Iran downs US drone. No military response . . Just Completely Destroy their Economy. Can Senator Kerry be tried for aiding enemy ?
  • 3 hours The Plastics Problem
  • 7 hours The Inconvenient Truth Of Electric Cars
  • 39 mins Ireland To Ban New Petrol And Diesel Vehicles From 2030
  • 7 hours Win Against Tyranny: Turkey's Opposition Strikes Blow To Erdogan With Istanbul Mayoral Win
  • 6 hours Green vs. Coal: Bavaria Seeks Fast-Track German Coal Exit in Snub to Merkel Plan
  • 53 mins Hydrogen FTW... Some Day
  • 24 mins NATO Article 5: Attack on one member is attack on all. Members all must come to defense . . . NOT facilitate financial transactions to circumvent and foil US Sanctions. Somebody please tell Angela.
  • 16 hours Solar Panels at 26 cents per watt
  • 18 hours What's more Important Iran Nuke Deal or Strong China Trade Deal. Hypothetically, If China offered Trump North Korean and Iran deals in exchange for concessions on trade deal should he take it ?
  • 7 hours Here We Go: New York Lawmakers Pass Aggressive Law To Fight Climate Change
  • 21 hours Summit in Pyongyang: China's Xi Says World Hopes North Korea-U.S. Talks Can Succeed
  • 11 hours Fareed Zakaria: Canary in the Coal Mine (U.S. Dollar Hegemony)
Jen Alic

Jen Alic

 

More Info

Trending Discussions

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




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment

Leave a comment




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