Google Inc. is investing $168-million in an alternative power project that aims to produce enough solar energy to power 140,000 homes.
The commitment announced Monday is part of the financing that BrightSource Energy needs to build solar power plant in California's Mojave Desert as part of its Ivanpah System. BrightSource Energy lists its mission is to make solar energy cost competitive with fossil fuels by developing, building, owning and operating the world’s most cost-effective, environmentally-responsible and reliable large-scale solar energy projects. It has also managed to secure $1.6-billion in loans guaranteed by the U.S. Department of Energy and a $300-million investment from NRG Energy Inc.
The Ivanpah project is a 370 MW solar complex using mirrors to focus the sun's power on solar receivers. Brightsource says that the three plants( which will be built in phases between 2010 and 2013) will generate enough electricity for more than 140,000 California homes and reduce Co2 emissions by more than 400,000 tons per year
This represents Google's biggest investment on clean energy so far , but it certainly has the cash potential to take such investments. It finished its financial year with about $35 billion in cas
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