Google and BlackRock forge solar energy alliance in Taiwan

Google Carbon reporting

Google and BlackRock have announced a partnership focused on clean energy development in Taiwan. Google is investing in New Green Power (NGP), a solar developer and BlackRock portfolio company, to source renewable energy for its data centers and facilities in the region.

Taiwan, currently generating nearly 85% of its electricity from fossil fuels, aims to reach 20 GW of solar capacity by 2025 and 80 GW by 2050 to achieve its net zero goals, according to the Taiwan Ministry of Economic Affairs.

Founded in 2009, New Green Power designs, develops, and manages utility-scale solar projects in Taiwan. The investment from Google will provide development capital for NGP’s 1 GW pipeline of new solar projects.

Ross Mackey, Portfolio Manager, Climate Infrastructure, BlackRock said: “This is a pivotal moment for energy infrastructure in Taiwan. BlackRock’s Climate Infrastructure business is a leading investor in Taiwan’s solar industry and we are delighted to partner with Google to provide a scalable and sustainable energy solution for their operations in Taiwan.”

Under the new partnership, Google plans to procure up to 300 MW of solar energy from NGP’s new project pipeline. Additionally, it may provide clean energy capacity from NGP to its semiconductor suppliers and manufacturers. This initiative will assist Google in meeting its clean energy goals and addressing Scope 3 supply chain emissions.

Amanda Peterson Corio, Global Head of Data Center Energy, Google, said: “We’re aiming to reach net-zero emissions across our operations and value chain, supported by a goal to run on 24/7 carbon-free energy everywhere we operate. The path to reach these goals is challenging, and requires both commercial efforts and broader energy systems change. We’re excited to partner with BlackRock and New Green Power to advance the build out of clean energy on Taiwan’s electricity grid.”

David Giordano, Global Head of Climate Infrastructure, BlackRock, said: “As we witness growth in demand for digital services, powered by AI and data-centric technologies, it becomes imperative to invest in the infrastructure that not only supports this growth but also aligns with our strategy to invest in clean energy. This partnership is a testament to our shared commitment to driving the transition to a low-carbon economy.”

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