Google reveals plans for renewable energy investment
Google has revealed details of its plans to invest in large scale commercial renewable energy projects, with a focus on difficult-to-finance schemes.
The money, which will be provided via the search engine's philanthropic foundation, google.org, is intended to help renewable technologies produce energy that is cheaper than renewable sources.
Announcing the initiative, google.org executive Dan Reicher told Reuters that the investment would represent a long-term commitment from the company.
"There are a lot of technologies that get to the pilot scale and look promising, but the first few large commercial projects deploying those technologies, financing those can be extremely difficult," he explained.
"When you get to building a commercial-scale project in the energy world, you can be looking easily at hundreds of millions or even across the billion dollar threshold," he added. "Over years we'll be looking at hundreds of millions of dollars."
Google's efforts at environmental awareness and sustainability were further illustrated by the announcement today (February 7th) that it has placed an order with US firm Diamant Art for wholly bio-degradable plastic film.
Article Date: 07 February 2008
To view articles in our archive please click here.