Google plots biggest renewable energy deal in corporate history

Google has announced it will invest over US$2 billion in a package of renewable energy projects – a deal which resembles the largest ever renewables acquisition in corporate history, according to the tech giant.

The 1.6GW package comprises of 18 new wind and solar projects that will be built across three continents around the world. The deal will increase Google’s clean energy portfolio by 40% – the equivalent capacity of a million solar rooftops.

Chief executive Sundar Pichai revealed the plans on the eve of the Global Climate Strike last Friday, when millions of employees and students around the world protested as part of the fight against climate change.

“We’re not buying power from existing wind and solar farms, but instead are making long-term purchase commitments that result in the development of new projects,” said Pichai.

“Bringing incremental renewable energy to the grids where we consume energy is a critical component of pursuing 24×7 carbon-free energy for all of our operations,” he added.

Google claimed to be the first company of its size to match 100% of its electricity use with renewables in 2017 and last year announced plans to acquire enough renewable energy to support its load centres ‘in all places, at all times’.

Elsewhere, the parent company of Swedish furniture giant Ikea said that the group has invested $2.76 billion in solar and wind energy systems over the last decade.

@RGNonline