Google Inc. will now be investing in a data center, Danish which is powered by the abundant green energy. The company will be investing $700 million.
Google stated that in order to ensure that the new Danish data center has been powered by the renewable energy; the company would be signing a power purchase agreement (PPA)
The Nordic countries have been a magnet for the heavy power using industries because of their abilities to generate electricity from hydro-power or wind which are the renewable sources of energy at much cheaper rate.
On Tuesday, the Nordic Council of Ministers which is the official body for the regional cooperation stated that by the year 2025, the annual investment of the Google in the Nordic data centers can double to become more than 4 billion Euros which is approximately $4.57 billion.
In order to manage the costs as well as reduce their footprint of carbon some big companies are seeking methods to secure cheaper renewable energy.
This is done through the corporate PPAs. These allow the big firms such as Google which is owned by the Alphabet Inc along with Microsoft and Facebook who purchase directly from the energy generators.
The Nordic countries have been competing with the well established FLAP-D (Frankfurt-London-Amsterdam-Paris-Dublin) for the investments worth multi-billion dollar.
The study of the Council of Ministers stated that Nordics is likely to increase its market share despite the fact that they are perceived to be less connected compared to the other markets.
Google had also stated that it would be evaluating several other investments in Denmark in a series of onshore as well as off shore energy projects of both wind and sun.
Google had signed a deal of 10 years in the month of September to purchase the renewable energy from Finland’s wind farms.
Source: Reuters, WallStreetReporter
