25 May '11, 6pm

Google Invests $55 Million in California's Massive 1,550MW Alta Wind Farm

The Alta projects also employ an innovative financial structure called a leveraged lease, which has been used previously in the solar industry but has only recently become an option for wind projects. Under the leveraged lease, Google and Citi are purchasing the Alta IV project and will lease it back to Terra-Gen, who will manage and operate the wind projects under long-term agreements. We hope this structure encourages more investment by enabling other types of investors who might not typically consider wind projects. The first five Alta projects are already operational, delivering 720 MW of energy to Southern California Edison, which will receive all 1,550 MW when completed, under a power purchase agreement signed with Terra-Gen in 2006. While Google won't be purchasing the electricity from this project, AWEC will help California meet its ambitious renewable portfolio st...

Full article: http://www.treehugger.com/files/2011/05/google-invests-55...

Tweets

#peakoil Google invests $55 million in Mojave D...

peakoil.com 25 May '11, 10am

The Internet search giant made the announcement in Anaheim at the industry’s largest gathering, where wind farm developers...

Google and Citibank Invest in World's Largest W...

ecogeek.org 28 May '11, 6am

Google and Citibank are investing $55 million apiece in the Alta Wind Energy Center , a new wind farm in California. Parts...

Google to Invest $5B to Bring U.S. Wind Farm Energy Ashore

Google to Invest $5B to Bring U.S. Wind Farm En...

greenbiz.com 23 May '11, 5pm

Google 's plans to build a $5 billion transmission line to bring electricity from wind farms off the United States' east c...

Giant California Wind Park Gets $110m Boost From Google And Citi

Giant California Wind Park Gets $110m Boost Fro...

care2.com 03 Jun '11, 7pm

State officials hope a recent $110 million joint investment from Google and Citi will breathe some new life into Californi...

Google strengthens wind farm connection: By Bus...

businessgreen.com 22 May '11, 11pm

Google's plans to build a $5bn transmission line to bring electricity from wind farms off the United States' east coast ba...

Google strengthens wind farm connection: Plans ...

businessgreen.com 23 May '11, 12am

Google's plans to build a $5bn transmission line to bring electricity from wind farms off the United States' east coast ba...