Google Invests in Taiwanese Solar Developer

Google has teamed up with BlackRock team to build a 1-gigawatt solar pipeline, in Taiwan this month in the year of 2024.

Google has teamed up with BlackRock team to build a 1-gigawatt solar pipeline, in Taiwan.

Technology giants are focused on increasing energy capacity and reducing carbon emissions thereby aligning themselves with the increasing demand for artificial intelligence (AI) technologies.

Green Power Investment

This deal involves Google putting money into New Green Power—a Taiwanese solar developer and a BlackRock team portfolio company. Once it gets regulatory clearance, this investment will help the construction of huge solar projects in Taiwan. The amount of the finances pumped into this project was not disclosed by any of the companies.

Google’s move is also expected to expand the local grid in Taiwan and support its goal of achieving net-zero emissions across the entire value chain, including operations by 2030. This expansion will enable new solar capacity to be built at Google’s data centers and cloud region based in Taiwan and benefit chipmakers supplying Google as well as manufacturers based within that area.

“We expect to procure up to 300 megawatts of solar energy from this pipeline through power purchase agreements (PPAs) and the associated energy attribute certificates (Taiwan Renewable Energy Certificates or T-RECS) to help meet electricity demand from our data center campus, cloud region, and office operations in Taiwan,” Amanda Peterson Corio, Google’s global head of data center energy, stated in a blog post.

It is known that Taiwan has a major presence in the global semiconductor industry.  About 60% of the world’s chips along with large shares of advanced AI processors are all produced in Taiwan. Chip manufacturing is highly energy-intensive, yet 97% of Taiwan’s energy comes from non-renewable sources like coal and natural gas. This highlights the urgent need to boost renewable energy sources in the region.

“As we witness growth in demand for digital services, powered by AI and data-centric technologies, it becomes imperative to invest in clean energy,” mentioned David Giordano, BlackRock’s global head of climate infrastructure. This sentiment is echoed across the Asia-Pacific region, where countries are increasingly focusing on renewable energy development.

Green Data Centers

I was unveiled in May that Singapore’s plans are aimed at promoting green data centers as a response to the increasing need for energy that is caused by AI technologies. The plan will see at least 300 MW of extra capacity soon through environmentally friendly power projects.

According to a Boston Consulting Group report, renewable energy development in Asia-Pacific now gathers pace but remains low. By 2030, up to 50% of the prevailing energy markets could be powered using renewable energy sources creating demand for massive capital investment.

Final Thoughts

For Google and BlackRock team to develop significant solar capacity in Taiwan is an important move towards sustainability. Clean energy becomes more urgent as AI and digital technologies expand. This step not only supports Google’s environmental goals but also demonstrates how other companies could integrate renewable energy solutions into their current systems to meet increasing demand for electricity supplies.

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