Google has made its first clean energy project investment in Europe – a €3.5 million (ca. $ 5 million) investment in a solar photovoltaic (PV) power plant in Germany.
The transaction still needs formal approval from German competition authorities and is subject to other customary closing conditions.
“We agreed to jointly invest in this project with the German private equity company Capital Stage, which brings strong experience in the German photovoltaic and renewable energy market,” stated Benjamin Kott, Clean Energy Advocacy Manager, Google.
“Germany has a strong framework for renewable energy and is home to many leading-edge technology companies in the sector.”
“More than 70% of the solar modules installed in Brandenburg are provided by German manufacturers,” Kott said.
The recently completed facility is located on 47 hectares (116 acres) in Brandenburg an der Havel, near Berlin.
The power plant has a peak capacity of 18.65MWp, which puts it among the largest in Germany.
This facility will provide clean energy to over 5,000 households in the area surrounding Brandenburg, he said.
Until the early ’90s, the site was used as a training ground by the Russian military.