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Google Invests in Taiwan Solar Power Firm, Eyes Significant Renewable Energy Uptake

Google invests in Taiwan's New Green Power, advancing renewable energy goals with a stake in solar energy and plans for regional sustainability
July 2, 2024

Google has announced its strategic investment in Taiwan-based New Green Power, a move aimed at bolstering its renewable energy portfolio and reducing carbon emissions. The acquisition of a stake in this solar energy firm, owned by BlackRock, underscores Google's commitment to sustainability across its global operations and supply chain.

In an effort to combat greenhouse gas emissions, Google plans to procure up to 300 megawatts of renewable energy from New Green Power. This initiative is part of Google's broader strategy to operate entirely on carbon-free energy worldwide. Despite Taiwan's heavy reliance on fossil fuels for power generation, particularly in supporting data centers and corporate facilities, Google aims to catalyze the development of a large-scale solar infrastructure within the region.

Amanda Peterson Corio, Google's Global Head of Data Center Energy, emphasized the significance of this investment in expanding Taiwan's solar capabilities. This move not only aligns with Taiwan's ambitious targets of achieving 20 GW of solar capacity by 2025 and up to 80 GW by 2050 but also addresses the challenges of decarbonizing the Asia Pacific region, where infrastructure development for renewable energy remains less mature.

Both Google and BlackRock have refrained from disclosing the specific size of the equity stake acquired in New Green Power. However, the investment is expected to facilitate substantial equity and debt financing for New Green Power's ambitious 1 GW solar pipeline expansion.

By utilizing the solar energy procured from New Green Power, Google not only aims to power its own operations sustainably but also plans to extend these benefits to its suppliers and manufacturers across the region. This initiative will play a crucial role in mitigating Google's Scope 3 emissions, associated with its value chain.

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