Mountain View, California — As far as German competition authorities extend its approval, it seems that Google will soon be in part responsible for powering the lights and computers at a number of German homes. The Silicon Valley Internet powerhouse Google on Thursday announced its very first clean energy plans to invest about $5 million in a solar photovoltaic (PV) power plant in Germany.
Google has faced tough times with German authorities over its Street View blunder, but this marks the search engine giant’s first clean energy project investment outside of the United States, in a German 18.7-megawatt solar power plant in a small town near Berlin, the company said in a blog post, though it still requires formal approval from Germany regulators.
The Internet giant is teaming up with German-based private equity firm Capital Stage for the project, a firm that “brings strong experience in the German photovoltaic and renewable energy market.”
A note to skeptics, worrywarts, and shareholders: Google is not investing in the plant on its own as it may appears — it has sided with German private equity company Capital Stage.
The company is shelling out about 3.5 million euros (roughly $5 million) in a solar photovoltaic power plant, which consists of 47 hectares (116 acres) of solar panels situated in Brandenburg an der Havel, near Berlin. It has a peak capacity of 18.65MWp, putting it among the largest in the country. Google says that the plant should provide power for 5000 homes in the local area. Besides, more than 70 percent of the panels installed at the plant are manufactured in Germany.
“Google is always seeking for new opportunities to encourage development and deployment of renewable energy across the world,” wrote Benjamin Kott, Google’s clean energy advocacy manager. “Until the early 90’s, the site was used as a training ground by the Russian military. We are glad it has found a new use!”
Although it does mark Google’s first clean tech investment outside the U.S., the company has already been encouraging clean technology stateside and its investment arm, Google Ventures, has invested in several clean technology companies in the past — including making a $38.8 million investment in two wind farms — so it is not as if new CEO Larry Page is acting in an unprecedented manner.
Moreover, the US solar power industry seems to be faring well and is on track to have a good year. Germany came in second after the United States in the amount it invested last year in clean technology. The country has invested $41.2 billion in 2010, double what it invested in 2009, according to the report.