Google teams with BlackRock for huge solar project in Taiwan.

By Oliver Townsend Jul 8, 2024
Google partners with BlackRock for 1GW solar push in Taiwan.jpegOrginal image from: https://itbrief.asia/story/google-partners-with-blackrock-for-1gw-solar-push-in-taiwan

Google has announced a partnership with BlackRock’s Climate Infrastructure business to develop a 1 gigawatt (GW) pipeline of new solar capacity in Taiwan. This initiative is part of Google’s broader objectives to bolster clean energy in the region and achieve net-zero emissions across all its operations and value chains by 2030. The collaborative effort involves Google’s capital investment in New Green Power (NGP), a Taiwanese solar developer and BlackRock portfolio company. This investment, subject to regulatory approval, will serve as development capital for NGP’s portfolio of new solar projects. Google anticipates procuring up to 300 megawatts (MW) of solar energy from NGP’s pipeline through power purchase agreements and associated energy attribute certificates. This energy will help meet the electricity demand from Google’s data center campus, cloud region, and office operations in Taiwan. A portion of this clean energy capacity may also be offered to semiconductor suppliers and manufacturers in the region, aiding their sustainability efforts while simultaneously helping Google reduce its Scope 3 emissions.

Google’s Commitment to Clean Energy

Google, a global tech giant, is not only dedicated to achieving net-zero emissions but also to running on 24/7 carbon-free energy in every grid where it operates. Amanda Peterson Corio, Global Head of Data Center Energy at Google, emphasized the challenging path to reaching these goals and the need for commercial efforts and broader energy systems change. The partnership with BlackRock aims to support the development of new clean energy opportunities in regions that are still in the early stages of their decarbonization journey. This collaboration will help advance clean energy on the local electricity grid in Taiwan while contributing to Google’s 24/7 carbon-free goal.

BlackRock’s Perspective on the Partnership

David Giordano, BlackRock’s Global Head of Climate Infrastructure, highlighted the importance of investing in clean energy as the demand for digital services powered by AI and data-centric technologies continues to grow. The partnership between Google and BlackRock demonstrates a shared commitment to driving the transition to a low-carbon economy. This partnership builds on over five years of collaboration between the two companies in accelerating the clean energy transition across the Asia Pacific region. Google’s advocacy for policy and market development efforts played a pivotal role in enabling non-utility companies to directly purchase renewable energy in Taiwan, leading to Google becoming the first corporate buyer to sign a power purchase agreement in the market.

Expanding Sustainability Efforts

Google’s sustainability initiatives extend beyond Taiwan, with recent progress noted in Australia and Japan. The company actively supports policies that promote the decarbonization of electricity grids and is a founding member of the Asia Clean Energy Coalition (ACEC). Through collaborations with energy buyers, suppliers, and policymakers, Google works to improve the regulatory environment for corporate renewable electricity purchasing. The company’s efforts in the Asia Pacific region align with its broader goal of achieving net-zero emissions and running on carbon-free energy worldwide.

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