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1 Dec 2007

ENN: Google plans renewable energy push

Great news that the big IT companies are taking the environment seriously.



ENN: Google plans renewable energy push


By Eric Auchard

SAN FRANCISCO (Reuters) - Google Inc. said on Tuesday the Web services and online advertising group plans to spend hundreds of millions of dollars in coming years to promote a new push to encourage cheap renewable electricity.

The project, known as Renewable Energy Cheaper Than Coal, is hiring engineers and targeted investment financing at advanced solar thermal power, wind power technologies, enhanced geothermal systems and other new technologies, Google said.

Google is, in effect, taking advantage of its growing mountain of cash, global brand recognition and mushrooming market capitalization as a pulpit to campaign for alternative energy. The company's leaders argue that the time is ripe for investments in innovative research to cut energy costs.

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