Google announces $200M investment in Oldham County wind farm.
Thu, 10 Jan 2013 15:29:39 GMT —
The Fortune 500 company Google, is making strides toward renewable energy investments. Google announced Wednesday that it was taking on a $200 million stake in the Oldham County wind farm.
According to a blog post from Kojo Ako-Asare, Google's senior manager,it is estimated that the 70 turbine investment will power 60,000 average homes.
This newest investment, known as the Spinning Spur Wind Project, will join 10 other renewable energy projects across the country that the company has made since 2010.
The 161-megawatt energy facility was built by EDF Renewable Energy, a company that has overseen more than 50 other renewable energy projects.
"We look for projects like Spinning Spur because, in addition to creating more renewable energy and strengthening the local economy, they also make for smart investments: they offer attractive returns relative to the risks and allow us to invest in a broad range of assets," Ako-Asare said in his blog post.
All 70 turbines recently began spinning in the last few weeks of Dec. 2012. The energy created from the facility has been contracted by SPS, a utility that serves Texas and New Mexico.