Antinuclear

Google now backing wind and solar to tune of nearly $2 billion

Google Is Making Its Biggest Ever Bet on Renewable Energy, Bloomberg, Christopher Martin Google Inc. is making its largest bet yet on renewable energy, a $300 million investment to support at least 25,000 SolarCity Corp. rooftop power plants.

Google is contributing to a SolarCity fund valued at $750 million, the largest ever created for residential solar, the San Mateo, California-based solar panel installer said Thursday in a statement.

Google has now committed more than $1.8 billion to renewable energy projects, including wind and solar farms on three continents. This deal, which may have a return as high as 8 percent, is a sign that technology companies can take advantage of investment formats once reserved only for banks.

The deal reflects the success of renewable energy companies in tapping into a broader pool of investors with financial products that emerged in the past three years, either paying dividends or sheltering cash. Those helped boost investment in clean energy 16 percent to a record $310 billion last year, according to data compiled by Bloomberg……..http://www.bloomberg.com/news/articles/2015-02-26/google-makes-biggest-bet-on-renewables-to-fund-solarcity

February 28, 2015 - Posted by Christina Macpherson | Uncategorized