Google buys stake in Taiwan solar power firm owned by BlackRock
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Google said it has taken a stake in Taiwan's New Green Power and could buy up to 300 megawatts of renewable energy from the BlackRock fund-owned firm to help cut its carbon emissions and those of suppliers.
Companies are being pushed to cut greenhouse gas emissions linked to their operations and value chains by investors and Big Tech firms have been among the most ambitious in their targets.Google aims to constantly run on carbon-free energy wherever it operates. Yet sector growth in demand for data-processing capacity to power artificial intelligence has seen emissions jump.
Taiwan, a major site for Google's cloud technology with a data centre and company offices, still relied on fossil fuels to generate nearly 85% of its power, Amanda Peterson Corio, Google's Global Head of Data Center Energy told Reuters.
Google has announced that it has acquired a stake in Taiwan's New Green Power (NGP), a leading solar developer and operator in Taiwan. The investment was made through a fund managed by BlackRock's Climate Infrastructure business . The exact size of the equity stake has not been disclosed by Google or BlackRock .The investment is expected to support the development of NGP's 1 gigawatt (GW) pipeline and drive the equity and debt financing for its expansion
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