Google will invest €3.5m in a solar photovoltaic power plant in Germany, according to an announcement on Thursday.
The power plant has a capacity of 18.65MWp and is located on a 116 acre site — previously used as a Russian military training ground — in Brandenburg an der Havel, approximately 50 miles from Berlin.
Google said it will provide clean energy to more than 5,000 homes in the surrounding area.
The €3.5m (£3.06m) investment is part of a joint project involving Capital Stage, a private equity company with experience in the German renewable energy market.
The proposal still requires the formal approval of the German competition authorities and is subject to other customary closing conditions, Google said.
Google has previously invested in a number of clean energy schemes in the US but this is the first time that the company has invested in a European initiative.
In 2010, Google announced that it would invest $38.8m (£23.8m) in two wind farms in North Dakota, capable of powering 55,000 homes.
It also joined a scheme to build a transmission backbone off the mid-Atlantic coast in order to accelerate offshore wind development. If successful, the project could generate enough energy to serve 1.9 million households.
Source: http://www.zdnet.co.uk/blogs/tech-tech-boom-10017860/google-to-invest-35m-in-german-solar-plant-10022174/?tag=mncol;txt
The power plant has a capacity of 18.65MWp and is located on a 116 acre site — previously used as a Russian military training ground — in Brandenburg an der Havel, approximately 50 miles from Berlin.
Google said it will provide clean energy to more than 5,000 homes in the surrounding area.
The €3.5m (£3.06m) investment is part of a joint project involving Capital Stage, a private equity company with experience in the German renewable energy market.
The proposal still requires the formal approval of the German competition authorities and is subject to other customary closing conditions, Google said.
Google has previously invested in a number of clean energy schemes in the US but this is the first time that the company has invested in a European initiative.
In 2010, Google announced that it would invest $38.8m (£23.8m) in two wind farms in North Dakota, capable of powering 55,000 homes.
It also joined a scheme to build a transmission backbone off the mid-Atlantic coast in order to accelerate offshore wind development. If successful, the project could generate enough energy to serve 1.9 million households.
Source: http://www.zdnet.co.uk/blogs/tech-tech-boom-10017860/google-to-invest-35m-in-german-solar-plant-10022174/?tag=mncol;txt
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