GOOGLE BUYS WIND

Google Invests $39 Million In Wind Farms
Miguel Helft, May 3, 2010 (NY Times)

"…[Internet giant Google] invested $38.8 million in two North Dakota wind farms built by NextEra Energy Resources, a subsidiary of FPL Group, a $16 billion electricity company based in Florida. Google’s investments represent a minority interest in a $190 million round of financing for the projects.

"The two wind farms have already been built, and Google said that its investment will provide funds for NextEra to invest in additional renewable energy projects. Google’s investment…will earn a return based on the tax credits awarded by the government for renewable energy projects…[T]he energy from the wind farms will not be used to power Google’s data centers, which consume vast amounts of electricity."

Wind is increasingly important. (click to enlarge)

"…Google’s primary goal [is] to earn a return from its investment but…[it] also hopes to accelerate the deployment of renewable energy."

It'a about time SOMEBODY developed these assets. (click to enlarge)

"Conscious of its high electricity bills and its impact on the environment, Google has long had an interest in green energy. Its projects in the area run the gamut from a large solar power installation on its campus, to the promotion of plug-in hybrids, investments in clean energy startups like eSolar and AltaRock, a controversial project to tap geothermal energy in Northern California. Google has also worked on making its data centers more efficient, promoted changes in energy policy and developed technologies to to let people monitor their home energy use.

"But…[this is Google’s first investment in] the generation of renewable energy…[T]he NextEra wind farms…generate 169.5 megawatts, or enough electricity to power more than 55,000 homes…"