Search giant, Google is in the news for all the right reasons these days; the company is making market headlines with launching of products like Google TV and its soaring Android Power Smartphones. Moreover, we also saw that Google is also funding and taking part in projects other than the internet realm. Autonomous road vehicles are what Google is testing as well these days.
So in continuation of its ever expanding domain, Google according to reports is now also investing in Alternate Energy Resources. According to the confirm reports, internet power house Google is investing in a new kind of a power project or more precisely quoted Google is funding a new Wind Farm power grid that will be located off the Eastern Coast of U.S.
The search engine company in a Blog Post on Monday announced that We just signed an agreement to invest in the development of a backbone transmission project off the Mid-Atlantic coast.
The Blog post further commented that this investment in the Wind Power project offers a solid looking financial return, plus it will aid in development of offshore wind development, which means it will turn out to be good for the environment and also for the business of the company.
The search engine company, Google said that the Atlantic wind power project will approximately be located 10 miles offshore and will stretch for almost a total of 350 miles from city of New Jersey to Virginia. According to an estimate, the Wind Farm will be producing a total of 6,000 megawatts that will be more than enough to power 2 million homes in this particular region. Google, in its blog post, also commented that the power which will be generated through this wind power plant will be delivered to the land located transmission system via cables that are submerged under the water.
Google is inkling a partnership with a company named as Trans-Elect which is a transmission company of the US; moreover, Marubeni Corp and Good Energies will start the project. According to the people at Google, the company is investing almost 37.5% initial money to start the project.
The spokesperson for Google Jamie Wood in a press statement said that only the seed money will exceed tens of millions, and to get the approval process go on as well. Jamie said that this is a mega project that is going to cost billions of dollars, once the construction cost and all the other overheads are gauged. According to Jamie, the first section of the Wind Farm will be built from Northern part of New Jersey to Delaware.
A lead lobbyist Melinda Pierce, from an environmental organization known as Sierra Club said that this is truly an audacious plan from Google and this is exactly what the East Coast side needs, an environmental friendly power source. Pierce also said that this is going to be indeed a first of its kind project in which huge amount of Wind Farms power will be extracted and delivered to a energy power grid.
Till now, no Partner of Google has responded to the situation and to the queries about this project. Google is planned to release its fourth quarter earnings on Thursday and analysts are expecting a total increase of almost 20% in revenue. SABUNG AYAM