Google purchases Iowa wind farm power in an effort to 'go green'
By Melissa Coon
© Copyright Agri-Pulse Communications, Inc.
Washington, July 21 – In an effort to cut the pollution caused by its rising demand for energy, Google recently signed a 20-year contract to buy power from NextEra Energy Resource’s Iowa wind farm. The deal provides Google with access to 114 megawatts of wind power at a fixed price over the 20-year period, according to Google Senior Vice President Urs Hoelzle.
“By contracting to purchase so much energy for so long, we’re giving the developer of the wind farm financial certainty to build additional clean energy projects,” said Hoelzle. “The inability of renewable energy developers to obtain financing has been a significant inhibitor to the expansion of renewable energy.”
In return for their power, the wind farm will receive enough financial security to build more farms and expand renewable energies.
Google said they are pleased to add this approach, alongside others, as it makes sense both environmentally and economically.
“While we are happy to be purchasing renewable energy as part of our environmental commitment, this is also a structure that makes long term financial sense for Google,” they said. “Through the long-term purchase of renewable energy at a predetermined price, we’re partially protecting ourselves against future increases in power prices. This is a case where buying green makes business sense.”
The purchase was made through Google Energy, a subsidiary that buys and sells energy on the wholesale market. Financial details were not disclosed.
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