Google announced it has taken a stake in Taiwan's New Green Power (NGP) and could purchase up to 300 megawatts of renewable energy from the BlackRock fund-owned firm.
This move aims to reduce Google's carbon emissions and those of its suppliers.
In response to investor pressure and ambitious targets, Big Tech companies, including Google, are committed to reducing greenhouse gas emissions across their operations and value chains.
Taiwan, a significant hub for Google's cloud technology with a data center and company offices, relies heavily on fossil fuels for nearly 85% of its power, according to Amanda Peterson Corio, Google's Global Head of Data Center Energy. "The goal of this investment is really to support the build-out of a large-scale solar pipeline in Taiwan," Corio told Reuters.
Decarbonizing regions such as Asia Pacific presents challenges due to less developed infrastructure and restrictions limiting corporate users' ability to buy green power.
New Green Power, managed by BlackRock's Climate Infrastructure business, is one of Taiwan's leading solar developers and operators, said David Giordano, BlackRock's Global Head of Climate Infrastructure.
Taiwan aims to reach 20 GW of solar capacity by 2025 and up to 80 GW by 2050, according to BlackRock.
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