If I was a Google investor I would be alarmed by Google’s investment in a wind farm project.The $39 million investment though small is not what I would want a technology company in my portfolio to be using up its cash\u00a0 for.While its venture capital investments in start up companies like eSolar,Nanosolar and some others might make sense , providing project finance does not . I don’t think Google wants to be a wind farm operator like Iberdola Renovalbes or other green electricity operators than why is it investing time and money in this space.<\/p>\n
Internet search giant Google Inc has invested $38.8 million in two wind farms in North Dakota that generate enough energy to power more than 55,000 homes.<\/p>\n
The investment in the wind farms, developed by NextEra Energy Resources, is Google’s first direct investment in a utility-scale renewable energy project.<\/p>\n
Google has so far invested in early-stage green start-ups such as solar thermal companies BrightSource Energy and eSolar.<\/p>\n
“Through this $38.8 million investment, we’re aiming to accelerate the deployment of renewable energy in a way that makes good business sense, too,” Rick Needham, Google’s green business operations manager, wrote in a blogpost on Monday.<\/p>\n
Google has pushed ahead in addressing climate change issues as a philanthropic effort through its Google.org arm.<\/p>\n
The often-quirky company said in late 2007 that it would invest in companies and do research of its own to produce affordable renewable energy — at a price less than burning coal — within a few years.<\/p>\n
Separately, NextEra Energy, a subsidiary of Florida utility FPL Group Inc, said on Monday that it has sold about $190 million of Class B membership interests in Peace Garden Wind, windfarms that produce 169.5 megawatts of power in North Dakota.<\/p>\n
NextEra Energy is the largest owner of wind farms in the United States with more than 7,500 megawatts of installed wind capacity, according to the American Wind Energy Association<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"
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