Google Inc. is the best known name in the IT sector today. Better known as the search engine giant, Google has decided to become active on the green technology front as well and has in the past two weeks, made two direct investments in the renewable energy sector, with the latest venture at Shepherd’s Flat wind project in Oregon costing it close to a $100 million. Its previous venture was the $186 million investment in the under-construction Ivanpah solar power plant.
Spread over an area of 30 square miles with an estimated total cost of $500 million, the Shepherds Flat, currently owned by Caithness Energy and GE Energy Financial Services, is the largest wind-energy project in the world with a projected power generation of 845 megawatts, sufficient enough for 235,000 average U.S. homes; when in operation. Additionally what makes this project unique and technology oriented is its use of direct drive turbines – a first for a wind farm that’s as large as Shepherds Flat. Powered by giant permanent magnets, these turbines are more efficient and reliable than those employing gear boxes.
Furthermore, California has recently passed a mandate that makes it compulsory for firms to have at-least one third of its power requirement met from renewable energy sources, with a time limit of until 2020. This mandate therefore not just promotes green technology but also promises to bring in revenue for those investing in such renewable energy ventures. The Shepherds Flat has already inked a power purchase agreement with Southern California Edison for a 20 year term.
Directly and indirectly, Google has until now invested about $350 million in technology promoting clean and green energy via existing or new start-ups. The Director of Green Business Operations at Google, Rick Needham attributes this move to sound business logic, as it would help Google get not just a significant return on its investment but would also help it do its bit toward the propaganda of renewable energy as well as fulfill its Corporate Environmental Responsibility.
Also, as a part of its commitment towards green technology and delivering clean and green energy back to the grid, Google through its company blog has appealed to firms to deploy renewable energy to the maximum, with a readiness for associating with projects making business sense.
