Google Invests $5 million in Renewable Energy in Europe
Google announced last week that it has agreed to make its first clean energy project investment in Europe. The company will be injecting US$5 million into a solar photovoltaic plant in Germany.
According to Google’s European Policy blog, the transaction still requires the formal approval of the German authorities and is subject to other customary closing conditions.
The solar plant is located in Brandenburg an der Havel near Berlin and occupies 47 hectares of a former Russian military training ground. It is one of the largest in Germany with a peak capacity of 18.65MWp. Google says it will provide clean energy to more than 5,000 households in the area.
The investment is a joint venture between Google and the German private equity company Capital Stage, which is experienced in the German PV and renewable energy market. 70% of the solar modules installed in Bradenburg will come from German manufacturers.
Article by Antonio Pasolini, a Brazilian writer and video art curator based in London, UK. He holds a BA in journalism and an MA in film and television.
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