Google Buys Mystery Stake On Taiwan Solar Firm, Is It Enough To Save The Planet?

Google has acquired a stake in Taiwan's New Green Power, its a solar power firm owned by a BlackRock-managed fund. This move enables Google company to potentially purchase upto 300 megawatts of renewable energy. Aiding in the reduction of its carbon footprint as well as that of its all suppliers.

Google renewable energy investment, Taiwan solar power, BlackRock climate infrastructure, Carbon emissions reduction, Data center energy efficiency

Amid increasing pressure from all investors, companies are striving to lower green-house gas emissions. Google, leading the charge in Big Tech, is committed to running on carbon-free energy globally. However, the huge demand for data-processing quatity and capacity, especially for advance AI, has caused an uptick in emissions.

Taiwan, a key hub for Google's cloud technology with significant data centers and offices, currently generates nearly 85% of its electricity from fossil fuels. Amanda Peterson Corio, Google company's Global Head of Data Center Energy, emphasized the investment's goal to develop a large-scale solar energy infrastructure in Taiwan.

Decarbonizing regions like the Asia Pacific is challenging due to underdeveloped infrastructure and regulatory hurdles. New Green Power, a top solar developer in Taiwan, plays a crucial role in this good effort. Mr. David Giordano, BlackRock's Global Head of Climate Infrastructure, highlighted the firm's significant contribution.

While the specifics of Google's equity stake in NGP remain undisclosed, Amanda Peterson Corio noted that the investment would facilitate the financing of NGP’s 1-gigawatt solar pipeline. Taiwan aims to achieve twenty gigawatts of solar capacity by 2025 and up to 80+ gigawatts by 2050. This initiative also allows Google company to provide solar power to its all regional suppliers that help to reduce its scope three emissions.

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