Banananomics: Google and Black Rock Team Up on Green Energy

Google and Black Rock Team Up on Green Energy

Google, in a significant move, has partnered with BlackRock to develop a 1GW solar energy pipeline in Taiwan.

Inputs that matter: This move aims to boost energy capacity and cut carbon emissions, especially as the demand for AI continues to rise.

• Taiwan is the prime hub for Google's cloud technology with data centers and offices.

• About 97% of Taiwan's energy comes from coal and natural gas, underscoring the urgency of shifting to renewable sources.

• Google's substantial investment is a significant step towards a global energy transition, aligning with its 24/7 demand for carbon-free electricity (CFE) in all regions where it operates.

The opportunity: In this deal, Google has taken a stake in New Green Power to buy nearly 300 megawatts of renewable energy from BlackRock.

• Google will buy through power purchase agreements (PPAs) and Taiwan Renewable Energy Certificates (T-RECS).

• Google plans to extend this clean energy capacity to its semiconductor suppliers and manufacturers.

Zoom in: The new solar capacity will directly power Google's data centers and cloud region in Taiwan.

• Google will also offer clean energy choices to nearby chip suppliers and manufacturers.

• It aims to provide at least 300 MW of additional capacity through green energy initiatives in the coming years.

Between the lines: Similarly, Singapore is advocating for green data centers to manage AI's increasing energy demands.

• Taiwan aims to reach 20 GW of solar capacity by 2025 and 80 GW by 2050 to achieve its net zero goals.

Follow the money: In May this year, the Taiwanese Coast Guard and Chinese Navy were at odds in the Taiwan Strait.

• China President Xi Jinping reasserted China's territorial claim on democratic Taiwan.

• Xi claims Taiwan as a province of China and has sworn to annex it by force if necessary, reports The Guardian.

• However, China's planned attack in June did not happen.

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