Google invests $103m in giant solar farm

Google is upping its game in the green sector, with its “lucky thirteenth” investment in renewable energy. The online search engine giant is committing $103 million (£64.5m) for a 265.7MW […]

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By Priyanka Shrestha

Google is upping its game in the green sector, with its “lucky thirteenth” investment in renewable energy.

The online search engine giant is committing $103 million (£64.5m) for a 265.7MW solar farm in Imperial County in California.

The Mount Signal Solar project (pictured), being developed by co-owner Silver Ridge Power, will sell its energy to San Diego Gas & Electric when completed next year. It will generate enough power to light 80,000 homes.

Google expects the project to create more than 900 construction jobs in the region and help California meet its target of generating one-third of its electricity from renewable sources.

Kojo Ako-Asare, Head of Corporate Finance said: “We invest in these projects because they make business sense, because they help put more renewable energy on the grid and because they have a positive impact on the local economies where they operate.”

Google has invested more than $1 billion (£0.6bn) in projects that is expected to generate at least 2GW of renewable electricity – enough to power around 500,000 homes.

It signed an agreement to buy the entire output from a wind farm in Texas last month.