Google and BlackRock Collaborate on 1 Gigawatt Solar Project in Taiwan

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Google Partners with BlackRock for 1 Gigawatt Solar Capacity in Taiwan

Team FS

01/Jul/2024

Key Points:

Partnership Details: Google and BlackRock to invest in Taiwanese solar developer New Green Power.
Clean Energy Goals: Project aims to enhance local energy grid and support Google's net-zero emissions target by 2030.
Impact on AI and Data Centers: Solar capacity to power Google's data centers and support semiconductor chip manufacturing in Taiwan.

Google announced a strategic partnership with BlackRock on Monday to develop 1 gigawatt of new solar capacity in Taiwan, underscoring their commitment to bolstering clean energy infrastructure amidst the artificial intelligence (AI) boom. This collaboration involves an investment in Taiwanese solar developer New Green Power, a portfolio firm of BlackRock, pending regulatory approval.

The initiative aims to significantly increase renewable energy on Taiwan’s electricity grid, aligning with Google’s ambitious goal of achieving net-zero emissions across its operations and value chain by 2030. The newly developed solar capacity will primarily cater to powering Google’s data centers and cloud regions in Taiwan, enhancing their operational sustainability.

According to Amanda Peterson Corio, global head of data center energy at Google, the project will involve procuring up to 300 megawatts of solar energy through power purchase agreements (PPAs), alongside Taiwan Renewable Energy Certificates (T-RECS). This energy will meet the electricity demands of Google’s data center campus, cloud infrastructure, and office operations in Taiwan.

Taiwan, renowned for producing nearly 60% of the world’s semiconductor chips, including advanced AI processors, faces a challenge in its energy supply dominated by non-renewable sources such as coal and natural gas. The partnership underscores the critical need to transition towards renewable energy sources, particularly as digital services powered by AI and data technologies continue to grow in demand.

David Giordano, BlackRock’s global head of climate infrastructure, highlighted the significance of investing in clean energy amidst the rapid expansion of digital services. This move not only addresses energy sustainability but also supports the broader goal of reducing environmental impact associated with technology advancements.

The collaboration between Google and BlackRock comes amid global efforts to promote green data centers and sustainable energy solutions. Governments across the Asia-Pacific region, including Singapore, are prioritizing green energy deployments to meet the escalating demand for AI-driven services while mitigating energy resource strains.

In conclusion, the partnership to develop 1 gigawatt of solar capacity in Taiwan marks a pivotal step towards advancing renewable energy initiatives in the region. This article provides insights into how industry leaders are addressing climate challenges and fostering sustainable development through innovative energy solutions.

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Google Partners with BlackRock for 1 Gigawatt Solar Capacity in Taiwan

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