Google invests $12M in renewable energy in South Africa

26 Jun

It has been announced that Google intend on investing $12 million (US Dollars) in a 96 megawatt solar photovoltaic plant in South Africa. It will be Google’s 12th overall renewable energy investment and will mark the first renewable energy investment in Africa by Google.

The project is set to generate enough power for 30,000 South African homes. The plant will be situated in the Northern Cape province of South Africa and has been named the ‘Jasper Power Project’. In total, Google has now dedicated more than $1 billion to green energy projects.

The main funders in this project are SolarReverse, Intikon Energy and the Kensani group and will be backed by Rand Merchant Bank, the Public Investment Corporation, Development Bank of South Africa and the PEACE Humansrus Trust. The project will cover about 450 acres with more than 325,000 modules making it one of the largest in South Africa.

In a statement, Google’s director for energy and sustainability, Rick Needham, also lays out some of the measures the firm uses to make these types of investments. He notes, for example, that Google will “only pursue investments that we believe make financial sense.” Because South Africa has policies that back these kind of projects, Google considers it to be an attractive place for it to invest in this technology. The company, yet, is also looking for “projects that have transformative potential – that is, projects that will bolster the growth of the renewable energy industry and move the world closer to a clean energy future.”

Investing in the Jasper Power Project gives Google the chance to contribute to a positive social and economic development in South Africa, expanding the energy and environmental perspectives.

 

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