Google (GOOG) Invests $38.8 Million In 2 Of NextEra Energy Resources’ (FPL) North Dakota Wind Farms

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08:38:35 am on May 5, 2010

Google just announced that it is investing, via tax equity investments, $38.8 million in 2 wind farms in North Dakota: Ashtabula 2, a 120 MW facility and Wilton Wind 2, a 49.5 MW facility. The wind farms were developed by NextEra Energy Resources, a subsidiary of FPL Group.

In  a blog post, Rick Needham,  Google’s Green Business Operations Manager explained the investment:

“Smart capital includes not only these early-stage company investments, but also dedicated funding for utility-scale projects. To tackle this need, we’ve been looking at investments in renewable energy projects, like the one we just signed, that can accelerate the deployment of the latest clean energy technology while providing attractive returns to Google and more capital for developers to build additional projects.”

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