Investment to generate electricity to power 60000 homes.
Texas Insider Report: AUSTIN Texas Google announced earlier this month it has made a $200 million equity investment
in Spinning Spur a 161 megawatt wind farm in West Texas Oldham County. With venture capital interest in utility-scale power generation on the wane corporate players like Google are playing a key role in
financing big projects.
In late December while most Texans were busy wrapping presents Googles Treasury Team" was tying a bow on their most recent renewable energy deal. Google estimates its $200 million West Texas wind farm investment will generates enough energy to power 60000 average homes.
Were proud to be part of a project that provides the Lone Star State with a new source of low-cost renewable energy and support the states thriving wind industry" said Kojo Ako-Asare Senior Manager Google Corporate Finance. This investment reflects Googles ongoing commitment to clean energy and our belief that corporations can be an important
new source of capital for this sector."
This investment is the first that Google has made in Texas renewable energy but follows a long history of energy investments especially in wind. The Spinning Spur project joins 10 other renewable energy projects in Googles portfolio which together are capable of producing up to 2 giga-watts of power.
Jeff Clark Executive Director of
the Texas-based Wind Coalition applauded Googles decision to invest in Texas wind.
Google has been a leader in revolutionizing technologies to improve the products and industries that touch peoples lives. In the field of energy Google has led by example improving energy efficiencies and harnessing renewable power to meet their energy needs while reducing environmental impact."
This investment is a testament to the incredible wind energy resources found in Texas and the visionary
state policies that have made Texas the nations wind power leader" Clark said.
The Spinning Spur project is located roughly 35 miles from Amarillo and was developed by EDF Renewable Energy a member of The Wind Coalition. EDF Renewable Energy is an integrated energy company active in all areas of the energy market including generation transmission distribution energy supply and trading.
The Spinning Spur Project will utilize 70 Siemens 2.3 megawatt turbines. The electricity produced has been contracted to Amarillo-based Southwestern Public Service (SPS) a utility that primarily serves Texas and New Mexico.
The Spinning Spur Wind Project in Oldham County utilizes the wide open windy section of the Texas Panhandle located about 35 miles from Amarillo. The 161 megawatt facility was built by renewable energy developer EDF Renewable Energy a veteran in the industry that has overseen more than 50 other clean
energy projects.
Spinning Spur joins 10 other renewable energy investments weve made since 2010 several of which hit significant milestones in the past year:
