Google is continuing its investments in green energy, though the pace seems to have slowed down a bit. Still, with its latest involvement with a wind farm in Texas, Google has now funded projects that generate some 2 GW of electricity, the equivalent of the output of the Hoover Dam in the US."Spinning Spur Wind Project is located in Oldham County, a wide open, windy section of the Texas Panhandle located about 35 miles from Amarillo," Google explained.
"The 161 megawatt facility was built by renewable energy developer EDF Renewable Energy, a veteran in the industry that has overseen more than 50 other clean energy projects," it added.
Google invested some $200 (€153) million in the project, but, as with some of its recent similar investments, Google is not buying a stake in the company or the project, rather it's just funding it and will slowly recoup its money plus turn a profit over the lifetime of the wind farm.
Green energy investments are a good deal for Google. On the one hand, it's a great image boost. Google also gets to use more green energy for its data centers, its goal being to become a carbon neutral company.
It also makes sense financially, especially with some new tax cuts in the US, as these projects will end up making Google money in the future and provide a reliable, predictable and steady source of income.