Google to invest in wind-power project
After rolling out a high-tech car that could drive itself, Internet search engine giant Google is now venturing into clean energy businesses. Google in a joint venture with Japanese trading house Marubeni Corp will form a joint venture to develop undersea power cables off the US Atlantic coast to deliver electricity from offshore wind. The transmission lines, which could cost up to $5 billion over the next 10 years, would run as far as 20 miles offshore from Virginia to New Jersey. The initial phase of the project would be capable of delivering 2,000 megawatts of wind energy — enough to power about 500,000 homes.
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After rolling out a high-tech car that could drive itself, Internet search engine giant Google is now venturing into clean energy business. Google in a joint venture with Japanese trading house Marubeni Corp will build undersea power cables off the US Atlantic coast to deliver electricity from offshore wind. The project will be called the Atlantic Wind Connection and will comprise of a 350 mile stretch of underwater cable off the east coast, from New Jersey to Virginia. The initial phase of the project would be capable of delivering 2,000 megawatts of wind energy — enough to power about 500,000 homes. (AP Photo)
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Google and Swiss equity fund Good Energies Investment will each own 37.5 per cent in the project while Marubeni will own 15 per cent. A group led by Trans-Elect will own the remaining 10 per cent. Trans-Elect CEO Robert L. Mitchell said the first phase is expected to cost $1.8 billion and run 150 miles in federal waters from New Jersey to Delaware and be complete by early 2016. The total cost of the development is estimated to be around $5 billion over the next 10 years. (Photo source: Google blog)
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Google says the Mid-Atlantic region is perfect for offshore wind projects, as the area has shallow waters that extend far out to sea, enabling developers to build larger turbines that make use of stronger winds. There are currently no offshore wind farms in the United States but the country is only beginning to develop projects to tap strong wind currents blowing along the Atlantic Coast. (AP Photo)
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The project will collect the power of multiple off-shore wind farms off the coast, which will be delivered through underwater cables to land-based transmission system. The company hopes the project would serve as a “superhighway for clean energy”. (Photo: NYT)
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The Internet search giant is positioning the project as good for job growth and for the environment. The company in late 2007 revealed its intentions to invest in companies and fund research into producing affordable renewable energy. It has also invested in onshore wind and solar energy.
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In May, Google made its first direct investment in clean energy, buying a $38.8 million stake in two North Dakota wind farms. Google has also been trying to rely on renewable energy sources for its data centers, whose demands for power are increasing as the company sets up more computers in its bid to index all of the world's online data.
