613
Google invests $145m in Clean Energy
Energy

Google invests $145m in Clean Energy

Google signed its 17th project related to renewable electricity generation: it’s putting $145 million into an 82 megawatt (MW) solar project being built by SunEdison.
The deal puts the Internet giant’s investment tab supporting clean power at more than $1.5 billion on three continents for a capacity of more than 2.5 gigawatts (GW). It centers on the Regulus solar development in Kern County, California, which is sited on an old oil and gas field.
“Over the years, this particular site in California has gone from 30 oil wells to five as it was exhausted of profitable fossil fuel reserves,” writes Google’s renewable energy principal Nick Coons in the company’s official blog. “The land sat for some time and today we’re ready to spiff things up.”
According to a report by Forbes, Last year, Google’s various long-term agreements for renewable power generated approximately 870,000 megawatt-hours, covering 23% of its total consumption needs. Between those contracts, green power that it buys from the grid and its own on-site projects, it sources about 35% of its electricity mix from renewables.
Its five big existing power purchase agreements are all focused on wind generation. When it’s completed, the so-called Regulus project will be SunEdison’s largest solar project in North America (it’s slated to begin operations later this year). The installation will span 737 acres, including more than 248,000 monocrystalline photovoltaic modules.
The owner of the system is TerraForm Power, which will sell the output to Southern California Edison through a 20-year power purchase agreement. Prudential Capital Group and Santander Bank both provided term financing.

Short URL : http://goo.gl/tFqEUA

You can also read ...

All renewable sources, including solar and wind, make up only a fraction of Iran's installed power generating capacity.
With a national energy system that chiefly runs on fossil...
NIOPDC Details Diesel Export to Iraqi Kurdistan
The National Iranian Oil Products Distribution Company in...
Oil Rises Nearly 1%
Oil prices ended nearly 1% higher on Friday, close to their...
Iran's Light Crude Hits $54
Iran's light crude extended its rally to $54 per barrel in the...
Total won six offshore exploration licenses for the Gulf of Mexico in August.
French Total has expanded its presence in the Gulf of Mexico...
Russia Open to OPEC Cuts While Mulling Exit Plan
Russia signaled that it would be willing to prolong the...
Merkel’s Green Energy Policy Has Fueled Demand for Coal
By 2030, the eastern German town of Poedelwitz will likely be...
Sri Lanka, China Discuss $3b Refinery
Sri Lanka is in talks with two Chinese companies about...

Trending

Googleplus