Google's Renewable Energy Seed Funding Starts In Taiwan
Google will provide Center for Resource Solutions seed funding to set up renewable energy certifications throughout Asia making the companies aware that the power they purchase comes from clean sources. The announcement was made Friday, April 8 and Taiwan was chosen to be the starting point to provide seed funding for the development of clean energy.
According to Focus Taiwan News Channel, the tech giant company decided to pursue for renewable energy certificate (REC0 initiatives in the country. As part of its Asia REC initiatives, the drive started in Taiwan where its data center prepares to find purchases of renewable energy to meet a boost in electricity consumption. This is also the reason why Taiwan was chosen to be the starting point for REC program.
The persuasion to set up energy certification in Asia is a part of a larger worldwide move for Google to power its data centers utilizing renewable energy. In December, it has completed its deals to buy power plants output in Chile, Sweden and the U.S. providing contracts for 2GW of global renewable energy.
The agreements on the purchased power operate from 10 to 20 years. And in July, Google accomplished itself to triple its purchases of renewable energy by 2025. At the time, the search engine operator company had deals to buy 1.1GW of such energy, the Bloomberg reports.
By 2020, it was forecast that the Asia Pacific wind energy market is expected to grow at a Compound Annual Growth Rate (CAGR) of 12.13%. Likewise, the Asia Pacific solar energy market also expected to spring a CAGR of 14.42%, as reported by PR Newswire.
The strong growth of Asia's renewable energy markets give Google a strong chance to make certain that its renewable certificate programs are progressive and will hopefully persuade other tech company leaders to do the same and develop their own energy initiatives.