Google investing €3.5m in German solar PV plant
Google is spending €3.5m on a solar photovoltaic (PV) power plant in Germany, its first clean energy investment outside the United States, the company announced today.
The recently completed facility, which has a peak capacity of 18.65MWp, is located on 47 hectares (116 acres) in Brandenburg an der Havel, near Berlin.
Writing in Google’s European Public Policy Blog, the company’s clean energy advocacy manager, Benjamin Kott, said Google is always looking for new ways to encourage development and deployment of renewable energy across the world. He said the facility, which is among the largest in Germany, will provide clean energy to more than 5,000 households in the area surrounding Brandenburg.
“Until the early '90s, the site was used as a training ground by the Russian military,” said Kott. "We’re glad it has found a new use!"
Google is jointly investing in the project with German private equity company Capital Stage.
“Germany has a strong framework for renewable energy and is home to many leading-edge technology companies in the sector,” said Kott. “More than 70pc of the solar modules installed in Brandenburg are provided by German manufacturers.
“After investing in clean-energy projects in the US, we’re excited about making our first investment outside of the US in Germany, a country that has long been a global leader in clean energy development.”
Kott noted that the transaction is subject to the formal approval from the German competition authorities, as well as other closing conditions.
Article courtesy of Businessandleadership.com