Google partners with BlackRock for 1GW solar push in Taiwan

Google has announced a partnership with BlackRock's Climate Infrastructure business to develop a 1 gigawatt (GW) pipeline of new solar capacity in Taiwan. This initiative is part of Google's broader objectives to bolster clean energy in the region and achieve net-zero emissions across all its operations and value chains by 2030.

The collaborative effort involves Google's capital investment in New Green Power (NGP), a Taiwanese solar developer and BlackRock portfolio company. This investment, which remains subject to regulatory approval, will serve as development capital for NGP's portfolio of new solar projects. The financial infusion is expected to facilitate critical equity and debt financing necessary for the advancement of these projects.

Google anticipates procuring up to 300 megawatts (MW) of solar energy from NGP's pipeline through power purchase agreements and associated energy attribute certificates. This energy will help meet the electricity demand from Google's data centre campus, cloud region, and office operations in Taiwan. A portion of this clean energy capacity may also be offered to semiconductor suppliers and manufacturers in the region, aiding their sustainability efforts while simultaneously helping Google reduce its Scope 3 emissions.

Amanda Peterson Corio, Global Head of Data Centre Energy at Google, stated, "We have a bold goal to reach net-zero emissions across all our operations and value chain by 2030, supported by a goal to run on 24/7 carbon-free energy on every grid where we operate. The path to reach these goals is challenging, and requires both commercial efforts and broader energy systems change."

She noted that this partnership with BlackRock seeks to support the development of new clean energy opportunities in regions that are still in the early stages of their decarbonisation journey. "We're announcing a partnership with BlackRock's Climate Infrastructure business that will help support the development of a 1 gigawatt (GW) pipeline of new solar capacity in Taiwan, advancing clean energy on the local electricity grid and our own 24/7 carbon-free goal," she added.

David Giordano, BlackRock's Global Head of Climate Infrastructure, commented on the importance of the initiative. "As we witness growth in demand for digital services, powered by AI and data-centric technologies, it becomes imperative to invest in clean energy. The partnership is a testament to the shared commitment between Google and BlackRock to driving the transition to a low-carbon economy," Giordano said.

This latest venture builds on over five years of collaboration between the two companies in efforts to accelerate the clean energy transition across the Asia Pacific region. Google's policy and market development efforts played a crucial role in the 2017 amendment of Taiwan's Electricity Act, which enabled non-utility companies to directly purchase renewable energy. This policy shift allowed Google to become the first corporate buyer to sign a power purchase agreement in the market, according to Corio.

The company's sustainability initiatives have extended beyond Taiwan, with recent progress noted in Australia and Japan. Google has also been actively involved in supporting policies that promote the decarbonisation of electricity grids. As a founding member of the Asia Clean Energy Coalition (ACEC), Google works alongside energy buyers, suppliers, and policymakers to improve the regulatory environment for corporate renewable electricity purchasing.

Corio explained the broader significance of these efforts: "Continued progress on our carbon-free energy goal is happening across Asia Pacific with recent announcements in Australia and Japan. In parallel, we're working with partners to support policies that accelerate the decarbonisation of electricity grids."