Monday, May 3, 2010

Wind: "Google Makes First Direct Investment Into Clean Power Project" (GOOG)

Interesting, no? Nothing fancy. Old-fashioned technology+subsidies.
From earth2tech:
Google has made its first direct investment into a wind power project, the search engine giant unveiled on Monday in a blog post. Google says it’s invested $38.8 million into 169.5 MW worth of wind projects developed by NextEra Energy Resources in North Dakota.

Google’s philathropic arm has previously invested in clean power startups, including solar thermal companies eSolar and BrightSource, geothermal company AltaRock, and high-altitude wind company Makani. Google also has a side project to develop solar thermal receivers.

But this investment comes directly out of the Google Inc. treasury. Google spokesperson Jamie Yood told us “You can think of it as a way to diversify our cash holdings while investing in an area that we think is important to support. This investment will help further deployment of wind power, one of the lowest cost sources of renewable energy....MORE

See also:
Meet Google’s Secret Time Machine Investment