Google announces partnership with BlackRock's climate infrastructure investment armCollaborationIt is expected to help promote the construction of 1GW (100 million kilowatts) of solar assets in Taiwan, thereby accelerating the transformation of Taiwan's power grid and moving towards Google's all-weather zero-carbon goal.
Google has previously set a goal of achieving net zero emissions across all its operations and value chains by 2030, and of fully transitioning all power grids supporting its operations to carbon-free energy around the clock.
In the announced collaboration with BlackRock's Climate Infrastructure Investments, it is expected that the company will assist in promoting the construction of 1GW (100 million kilowatts) of solar assets in Taiwan, thereby accelerating the transformation of Taiwan's power grid and moving towards Google's goal of XNUMX/XNUMX zero carbon emissions.
At the same time, in this collaboration, Google will invest in Taiwan's solar energy developer and operator, Yongxin Power (NGP), a portfolio company of BlackRock's Climate Infrastructure Investments, to assist it in implementing large-scale solar energy construction projects in Taiwan.
Subject to regulatory approval, Google's investment in Yongxin Energy will serve as development capital for the company's 1GW solar project, facilitating equity and debt financing for these projects. Furthermore, Google will purchase up to 300MW of solar power from this project through a power purchase agreement (PPA) and receive Taiwan Renewable Energy Certificates (T-RECs) to support electricity needs at Google's data center campuses, Google Cloud regions, and offices in Taiwan.
In addition, through this collaboration, Google will also be able to provide some of its construction projects to Taiwanese semiconductor suppliers and manufacturers to help accelerate the achievement of sustainable development goals while reducing indirect greenhouse gas emissions generated by Google's suppliers and users.
Google said it will continue to promote carbon-free energy goals across the Asia-Pacific region, such as recently announcing related cooperation plans in Australia and Japan, and will continue to work with partners to accelerate the development of relevant policies for decarbonizing the power grid.
