One is among the world’s largest financial institutions, the other is one of the world’s most iconic brands. Citigroup and Google have joined forces to invest a total of $110 million in Terra-Gen Power’s 102 megawatt Alta IV wind farm in California, which will be the largest of its kind in the country. The wind farm will be able to produce 1,550 megawatts of generating capacity which will be enough to power 450,000 homes. The project will be constructed in several stages by renewable energy developer Terra-Gen Power.
Google and Citigroup will purchase the project and lease it back to Terra-Gen, who will manage and operate it under a long-term agreement, Google said in a statement.
Google have significantly increased their investment into clean energy, with approximately $400 million being invested in the clean energy sector over the last few years. The company aims to utilise clean energy to reduce their carbon footprint from the their energy intensive data centres across America. Google recently announced they would power one of their data centres in Finland by utilising a seawater system, which will be a world first and a breakthrough in technological efficiency .