Google has taken a stake in New Green Power (NGP), a Taiwanese company owned by BlackRock’s climate infrastructure business.
As part of the agreement, Google will have the rights to procure up to 300MW of solar power from NGP’s development pipeline of solar assets in Taiwan, as well as the opportunity to extend clean-energy capacity to Google’s suppliers in the region.
The financial details of the deal were not disclosed.
BlackRock first bought into NGP, a solar developer and operator in Taiwan, in 2020 and took over full control of the company in 2022. NGP is developing a large-scale solar pipeline and aims to construct 1GW of new solar capacity in the coming years.
David Giordano, global head of climate infrastructure at 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.”
Ross Mackey, portfolio manager of climate infrastructure at 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.”
Amanda Peterson Corio, global head of data centre energy at 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.”
To read the latest IPE Real Assets magazine click here.
