GOOGL - Google Makes Major Solar Move Acquires Stake In Taiwan-Based New Green Power Owned By BlackRock | Benzinga
Alphabet Inc.‘s (NASDAQ:GOOGL) (NASDAQ:GOOG) subsidiary Google has purchased a stake in a Taiwanese solar power company. The deal, which involves New Green Power, a firm owned by BlackRock (NYSE:BLK), could see Google procure up to 300 megawatts of renewable energy.
What Happened: Google has made a strategic move to invest in New Green Power, a solar power company based in Taiwan. The tech giant has also secured the right to purchase up to 300 megawatts of renewable energy from this BlackRock-owned firm.
This initiative is part of Google’s broader strategy to reduce its carbon emissions and those of its suppliers, Google announced on Monday.
As a significant hub for Google’s cloud technology, Taiwan currently relies on fossil fuels for nearly 85% of its power. This investment aims to support the development ...