From the September/October 2012 issue of Treasury & Risk magazine

Gold AHA Winner in Best Green Strategies

Generating Capital for Green Energy: Google

Axel Martinez, assistant treasurer; Adrian Garcia, capital markets analyst;  Aurin Bhattacharjee, senior capital markets analyst; and Kojo Ako-Asare,  corporate finance manager Axel Martinez, assistant treasurer; Adrian Garcia, capital markets analyst; Aurin Bhattacharjee, senior capital markets analyst; and Kojo Ako-Asare, corporate finance manager

Renewable “green” energy is having a tough slog in the United States. While some countries, such as Germany and China, are investing huge amounts of money in renewable energy, in the U.S. things are moving backward in some ways. With budgets strapped, states and the federal government have ended many tax credits that had funded green energy initiatives. Republicans have made attacking government loans and credits for renewable energy projects part of their campaign pitch, and even the Democrats, while giving lip service to green energy at their convention, are balking at subsidies and talking up shale gas.

Enter Google, the $40 billion Internet company.

In December, Google closed a deal on an 88-megawatt project with Recurrent Energy and the investment firm KKR. It was the company’s ninth power generation investment.

“We recognize our core business expertise is not managing a power generator,” says Ako-Asari, “so we partner with groups that have that expertise.”

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