Here’s Why Wind Energy Stocks Are Blowing Higher Now
Google (NASDAQ:GOOG) is becoming increasingly generous towards clean energy companies. Last week we told you that the Mountainview, CA based tech leader plans to invest over $680 million in solar companies to help make financing cheaper for solar installations. Today, Google’s magnanimous spirit was evident again, as the company staked another $102 million in the Alta Wind Energy Center, a wind power farm in California. The move from Google makes it total contribution to the company $132 million so far this year.
Google’s green investments come from a different arm of the company than the one that runs its day-to-day, Google’s “Green Business Operations Team” is responsible for overseeing purchases and investments in alternative, clean energy businesses. Google’s move is not exactly altruistic, as the company expects to make a return on all of its clean-energy holdings, and will even use the Alta V Wind Farm to help power some of its own facilities.
From the NY Times, “The whole wind farm will be one of the largest of its size, generating a gigawatt of power when all scheduled projects are completed by the end of the year. The Alta Wind Energy Center will generate 1.55 gigawatts of power when every project is completed and the wind power farm is fully online.”