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Google takes over shares in the Taiwanese company New Green Power

Posted on by darion

New Green Power is a key solar developer and operator in Taiwan. Source: ABCDstock / Shutterstock.

Google bought a stake in New Green Power (NGP), a Taiwanese solar energy company owned by BlackRock. Its goal is to obtain up to 300 MW of renewable energy.

New Green Power, backed by BlackRock’s Climate Infrastructure Fund, is a major solar developer and operator in Taiwan.

The transaction is part of Google’s strategy to use zero-emission energy globally and reduce greenhouse gas emissions across its operations and supply chains.

The tech giant’s move reflects a broader trend of large companies setting ambitious environmental goals in response to growing investor pressure to fight climate change.

In Taiwan, where Google maintains significant cloud infrastructure, the use of fossil fuels for power generation is 85%.

Amanda Peterson Corio, Google’s global director of data center energy, said: “The purpose of this investment is really to support the construction of a large-scale solar pipeline in Taiwan.”

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Google and BlackRock did not disclose the specific size of their equity stakes, but Corio suggested the investment would accelerate financing for NGP’s 1GW solar pipeline.

Taiwan has set ambitious solar energy targets, aiming to reach 20 GW by 2025 and 80 GW by 2050. Google’s partnership with NGP will certainly contribute significantly to achieving these goals.

In addition to using the purchased solar energy for its own operations, Google intends to distribute some of the energy to its suppliers and manufacturers in Taiwan.

This approach will reduce Google’s Scope 3 emissions (indirect value chain emissions) by enabling suppliers to use renewable energy sources.