Google Provides $200 Million Financing for Wind Farm
Google has made a $200 million equity investment in the Spinning Spur Wind Project, a 161 MW facility located in Oldham County, Texas.
The project was built by EDF Renewable Energy, a subsidiary of EDF Energies Nouvelles, who remains an owner and manager in the project.
The partnership reflects a departure from sourcing investment capital from traditional financial institutions for renewable energy projects.
Construction of the Spinning Spur wind energy project commenced in February 2012 and began commercial operation in late December.
The Spinning Spur project consists of 70 Siemens 2.3 MW turbines. The facility has the capacity to generate enough clean energy to power approximately 60,000 average US homes, and the energy it produces has been contracted to SPS, a utility that primarily serves Texas and New Mexico.
Spinning Spur joins 10 other renewable energy investments Google has made since 2010, which together can produce 2 GW of power.
EDF Renewable Energy specializes in wind and solar photovoltaic with presence in other segments of the renewable energy market: biogas, biomass, hydro, marine energy and storage solutions. The company develops, constructs, operates and manages renewable energy projects throughout the United States for its own accord as well as for third parties.
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