Google (NASDAQ:GOOG) is still planning on being a big player in the clean technology boom. So, the company is changing its investing tactics.
At a recent symposium held at the Google headquarters, Dan Reicher, the director of climate change and energy initiatives at Google, stated the Internet giant would be soon making its first foray into financing renewable energy power plants. Reicher said the company is exploring both investing directly in clean energy projects, and also investing in companies that specialize in project finance.
This is a relative shift in Google's clean energy investment strategy. Previously, the company has invested in start-ups that are promoting technology, such as BrightSource and eSolar--solar thermal specialists. However, the sale and application of these technologies have been stunted by porous economic circumstances.
So, Google is looking to step into the current void, and become the source of funding to get medium and large renewable energy projects up and running. As Reicher stated at the symposium, Google is looking to solve the current dilemma facing clean technology: "how do we get medium and large scale energy projects off the ground?"
Read the full story at Greentech Media: Google to Fund Clean Power Plants
Nathanael Baker is the Managing Editor of EnergyBoom. He has researched and reported on the issues of renewable energy, sustainability, and climate change for over two years. He has provided research to the New York Times and The Economist, as well as being published on different media outlets including, The Energy Collective.
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