Google, BlackRock partners to develop 1GW of solar capacity in Taiwan, boosting regional decarbonization efforts

• Google partners with BlackRock to add 1 GW of solar capacity in Taiwan.
• The aim of the investment is to achieve 24/7 emission-free energy and net zero emissions by 2030.
• The initiative supports Taiwan’s renewable energy market and reduces scope 3 emissions.

Google is taking a significant step toward its net-zero emissions goal with a new partnership with BlackRock’s Climate Infrastructure business. The collaboration aims to develop a 1 gigawatt (GW) solar pipeline in Taiwan, increasing the local grid’s capacity to generate clean energy and furthering Google’s goal of 24/7 zero emissions.

David Giordano, Global Head of Climate Infrastructure at BlackRock, noted:As we witness an increase in demand for digital services powered by AI and data-centric technologies, investing in clean energy becomes imperative. This partnership is a testament to Google and BlackRock’s shared commitment to driving the transition to a low-carbon economy.”

Photovoltaic investments in Taiwan

Google is making an equity investment in New Green Power (NGP), a Taiwanese solar developer, to facilitate the expansion of its large-scale solar project. This investment, pending regulatory approval, will serve as development capital for NGP projects. Google plans to acquire up to 300 MW of solar power from this project through power purchase agreements (PPAs) and Taiwan Renewable Energy Certificates (T-RECs) to meet the electricity needs of its data center campus, cloud region and office operations in Taiwan.

Supporting suppliers and reducing emissions

To meet its sustainability goals, Google may offer some of its clean energy resources to its suppliers and semiconductor manufacturers in the region. This initiative will help these suppliers meet their own sustainability goals while helping Google reduce Scope 3 emissions. Much of Google’s Scope 3 footprint is tied to the electricity grids that power suppliers and users.

Unlocking Decarbonisation in Asia Pacific

The partnership builds on more than five years of collaboration to accelerate the transition to clean energy in the Asia-Pacific region. Google played a key role in the 2017 amendment to Taiwan’s Electricity Law, which allowed non-utility companies to directly purchase renewable energy. With this move, Google became the first corporate buyer to sign a PPA in Taiwan, making the country the leading market for corporate PPAs in the region.

Related article: BlackRock and Temasek Decarbonization Fund Invests $69 Million in Neustark to Fund Global Expansion of Carbon Removal Solution

Google’s continued progress toward zero-emissions energy goals is also evident in recent announcements in Australia and Japan. Google is also a founding member of the Asia Clean Energy Coalition (ACEC), which works to improve the policy and regulatory environment for corporate renewable energy purchases.

This partnership is a significant milestone on Google’s journey towards net-zero emissions and 24/7 carbon-free energy. There is still much work to be done, both in the Asia Pacific region and globally. For more information on Google’s sustainability initiatives, visit sustainability.google.