Google Invests $75 Million in Iowa Wind Farm
Search giant Google (NAS: GOOG) announced today that it is going greener with an equity investment of $75 million in a wind farm in Rippey, Iowa, a small town in Greene County about an hour's drive northwest of Des Moines.This gives Google a stake in the 50-MW wind farm that's part of the Rippey project developed by RPM Access.
Google operates a large data center not too far away in Council Bluffs, but none of the renewable energy generated at the wind farm will go to power the data center. The project has already been contracted to sell the energy to the Central Iowa Power Cooperative and is expected to produce enough energy to power 15,000 homes.
The company now has nearly $1 billion in committed investments in various renewable energy projects around the country.
The article Google Invests $75 Million in Iowa Wind Farm originally appeared on Fool.com.Evan Niu, CFA, has no positions in the stocks mentioned above. The Motley Fool owns shares of Google. Motley Fool newsletter services recommend Google. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.