Google’s (NASDAQ: GOOG) ongoing interest in renewable power is evident again this week following the announcement of a $200m investment in the 161 MW Spinning Spur Wind Project in Texas, US.
The project was brought into commercial operation by EDF Renewable Energy (EDF RE) in December and comprises 70 Siemens 2.3 MW wind turbines, with all electricity being sold under a long-term contract to utility SPS.
Recharge News reports that Jim Peters, vice president of project finance at EDF RE, says the partnership with Google reflects a departure from sourcing investment capital from traditional financial institutions for his company’s projects.
"This transaction provides an opportunity for a leading renewable energy developer to join forces with a leading technology company to create value for both our companies and our respective customers,” he says.
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