Google’s Smart Grid Portfolio: $38.8 Million in North Dakota Wind Farms

Google's first direct investments in utility-scale renewable energy development will benefit two North Dakota plains wind farms to the tune of $38.8 million. The advanced technology wind farms, developed by Nextera Energy Resources, will harness energy from a location considered one of the world's richest wind resources and generate 169.5 MW of electricity, enough to provide power for over 55,000 homes. Google says the investments can boost the deployment of clean energy technologies, which will give the computing and Internet giant "attractive returns" and more capital for more similar projects. Obviously, Google anticipates further investments to expand its Smart Grid portfolio.

Quick Take: Google's move into advanced renewable energy technologies, combined with continued Recovery Act stimulus funding, may help convince timid investors to expand their Smart Grid portfolios too.

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