GOOGLE BUYS INTO GERMAN SUN
Google hands over US$5m for its first solar investment in Europe
Emma Hughes, 7 April 2011 (PV-Tech)
"Google has crossed over into Europe’s renewable energy sector by investing US$5 million in an 18.7MW solar power plant near Berlin…The search giant will work with German private equity company Capital Stage, which will sell 49% of the recently acquired plant to Google. This is the company’s first clean energy project investment [in Europe]…
"…[T]he plant covers 47 hectares (116 acres) of land and will provide solar energy to approximately 5,000 homes in the area. The two companies have agreed to jointly operate the plant…"
The Brandenburg solar project Google now co-owns. (click to enlarge)
[Benjamin Kott, clean energy advocacy manager, Google:] “Google sees its participation as an important contribution to promoting climate-friendly energy - but also as a solid financial investment. This double dividend makes investments in renewable energy particularly attractive…”
Google is likely looking to learn how Germany does solar so well with so little sun. (click to enlarge)
"The transaction still requires the formal approval of the German competition authorities, and is subject to other customary closing conditions.
"Although this is Google’s first clean energy investment in Europe, the company previously backed renewable energy projects in the U.S. In total the Internet giant has invested approximately US$100 million in renewable energy projects…"