Google Makes First Foreign Investment in Renewable Energy

Google (Nasdaq: GOOG) announced its first foreign investment in renewable energy – a solar PV plant in Germany.

The Internet giant invested EUR 3.5 million (US$5 million) in a solar photovoltaic (PV) plant in Brandenburg an der Havel, Germany.

Google joined German private equity firm Capital Stage in the investmet and acquired a 49% stake in the solar project.

The recently completed facility is located on 116 acres near Berlin and has a peak capacity of 18.65 MW. More than 70% of the panels installed in the project were manufactured in Germany.

Until the early 90’s, the site was used as a training ground by the Russian military.

In the last year, Google invested in Iowa wind power, offshore windpower transmission, weather insurance, efficient electricity conversion, and a biofuel startup.

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