Internet giant Google will invest $200m into EDF Renewable Energy-owned 161MW Spinning Spur wind project in Texas, US.
The wind generation facility in Oldham, Texas employs 70 turbines supplied by Siemens and each with a capacity of 2.3MW, generating a cumulative output to meet requirements of 60,000 households.
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Renewable energy developer EDF Renewable Energy undertook the construction of the project and will continue to manage operations.
EDF Renewable Energy project finance vice president Jim Peters noted that this partnership reflects a departure from the traditional investment sourcing methods from traditional financial institutions for renewable energy projects.
"This transaction provides an opportunity for a leading renewable energy developer to join forces with a leading technology company to create value for both our companies and our respective customers," added Peters.
Google’s investment’s into Spinning Spur takes its renewable energy portfolio to 11 projects with a combined capacity of 2GW.
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By GlobalDataCommenting on the developments Google corporate finance senior manager Kojo Ako-Asare said, "This investment reflects Google’s ongoing commitment to clean energy and our belief that corporations can be an important new source of capital for this sector," added Ako-Asare.
Energy from the facility is sold to the local electrical utility SPS, which provides caters to the states of Texas and New Mexico.
