Google and BlackRock to invest in Taiwan solar projects

Google will invest in BlackRock’s portfolio company New Green Power (NGP), procuring the rights for up to 300MW of clean energy from a pipeline of solar projects in Taiwan. As part of the partnership, Google suppliers in the region can also benefit from increased clean energy capacity.

David Giordano, Global Head of Climate Infrastructure, BlackRock: “As we witness growth in demand for digital services, powered by AI and data-centric technologies, it becomes imperative to invest in the infrastructure that not only supports this growth but also aligns with our strategy to invest in clean energy. This partnership is a testament to our shared commitment to driving the transition to a low-carbon economy.”

NGP is fully owned by BlackRock’s Climate Infrastructure business and has a target in place to construct 1GW of new solar capacity in Taiwan. This will help with the nation’s target of adding 20GW of solar capacity by 2025 and 80GW by 2050 to reach net-zero.

Earlier this year, Google announced new power purchase agreements (PPAs) for more than 700 MW of clean energy across Europe, in a bid to achieve its target of 24/7 carbon-free energy by 2030.

Google is aiming to power all its data centres and office campuses with 24/7 carbon-free energy across every grid it operates on by 2030.

This will ensure that local grids are benefitting from additional renewables capacity, while overcoming issues of transparency and credibility that can result from the purchase of clean electricity certificates.

Last year, the technology giant disclosed that its global facilities achieved an average of 64% energy consumption from local renewables in 2022. The highest proportions were observed in Finland at 97%, while Iowa, Denmark and Chile also surpassed the 90% mark.

Google’s global head of data center energy Amanda Peterson Corio said: “We’re aiming to reach net-zero emissions across our operations and value chain, supported by a goal to run on 24/7 carbon-free energy everywhere we operate.

“The path to reach these goals is challenging, and requires both commercial efforts and broader energy systems change. We’re excited to partner with BlackRock and New Green Power to advance the build out of clean energy on Taiwan’s electricity grid.”