Tuesday, 31 May 2011

Google invests $55 million in 1.55-gigawatt California wind farm

Google will invest $55 million to finance a section of a 1.55-gigawatt wind farm being built in California, raising the amount of money the Internet search giant has spent into clean energy projects to $400 million.

The money will finance the fourth phase of the Alta Wind Energy Center being developed by North Carolina-based Terra-Gen Power, L.L.C. in the Tehachapi Mountains. In a blog post, Google said Citibank, which has served as underwriter for the earlier phases of the wind farm, will also be investing $55 million in the 102-MW Alta IV project.

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