Google announced a new collaboration with BlackRock’s Climate Infrastructure division, aimed at accelerating the clean energy transition in Taiwan. Google’s long-term goal is to achieve net zero emissions across its operations and value chains by 2030.
Google and its firm steps towards decarbonization
To achieve these goals, Google has disclosed an investment in New Green Power (NGP), a Taiwanese solar developer, that will facilitate the construction of a portfolio of 1 gigawatt (GW) of new solar capacity.
The development of new clean energy sources in Asia Pacific presents unique challenges due to land constraints and the low availability of commercially viable wind and solar resources. Currently, almost 85% of electricity in Taiwan is generated from fossil fuels such as coal and imported natural gas. Google and BlackRock’s collaboration seeks to overcome these obstacles and promote the full decarbonization of electricity systems. decarbonization of regional power systems. systems.
Google plans to acquire up to 300 megawatts (MW) of NGP’s solar portfolio through power purchase agreements (PPAs) and power attribute certificates (T-RECs) to power its data centers, cloud operations and offices in Taiwan. In addition, some of this clean energy capacity could be offered to semiconductor suppliers and manufacturers in the region to advance their sustainability goals as well.
Clean energy in Taiwan
BlackRock’s global head of climate infrastructure, David Giordano, highlighted the importance of this investment, stressing that the growing demand for digital services, driven by artificial intelligence and data-centric technologies, makes it imperative to invest in clean energy. The partnership reflects Google and BlackRock’s shared commitment to the transition to a low-carbon economy.
The partnership with BlackRock builds on more than five years of collaboration to accelerate the transition to clean energy in Asia Pacific. Google’s initiatives have been key in the 2017 amendment of Taiwan’s Electricity Act, allowing non-utility companies to procure renewable energy directly. In addition, Google became the first corporate buyer to sign a PPA in the market, propelling Taiwan to become one of the leading corporate PPA markets in the region.
In addition, Google is working with partners to support policies that accelerate the decarbonization of electricity grids. Also the founding member of the Asia Clean Energy Coalition (ACEC), Google seeks to improve the regulatory environment for corporate purchasing of renewable electricity.
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Source: Google
Photo: Shutterstock
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