Google and BlackRock join forces towards a new clean energy-focused partnership in Taiwan. The partnership aims to develop a new 1 gigawatt (GW) solar pipeline, which will improve clean energy on the island’s grid.
The U.S. tech giant plans to invest in solar developer and BlackRock portfolio company New Green Power (NGP). The capital injection is expected to fuel the construction of NGP’s large-scale solar projects.
The partnership is a powerful example of how companies can pave the way for change. The newly added solar capacity will supply energy to Google’s data centers and cloud regions in Taiwan. This agreement is a key component of Google’s global strategy to utilize carbon-free energy and minimize carbon emissions throughout its operations and supply chains. Furthermore, this move by the tech giant mirrors a larger trend of major corporations establishing bold environmental goals in response to growing investor demands for climate action.
Google’s investment in NGP is yet to be approved, and once it is, the tech giant can directly fund new solar projects. Furthermore, to reduce its carbon footprint, the company plans to purchase up to 300 MW of clean energy. The clean energy access may be extended to their Taiwanese semiconductor suppliers, which will help them achieve their own sustainability goals.
The initiative is expected to help Google and BlackRock work towards their goal of clean energy adoption in Asia Pacific. Moreover, it is their combined efforts that have helped shape policies that enable companies to directly buy renewable energy. The partnership reiterates Google’s unwavering commitment to carbon-free energy, with similar announcements in Australia and Japan. In this context, the U.S. tech giant actively participates in coalitions like the Asia Clean Energy Coalition and supports policies encouraging renewable energy use.
Ultimately, both Google and BlackRock acknowledge the work remaining both in Asia Pacific and globally. The initiative sets the path open for companies seeking to contribute to a sustainable future.
