Search giant Google (NASDAQ:GOOGL) announced today that it is going greener with an equity investment of $75 million in a wind farm in Rippey, Iowa, a small town in Greene County about an hour's drive northwest of Des Moines.This gives Google a stake in the 50-MW wind farm that's part of the Rippey project developed by RPM Access.
Google operates a large data center not too far away in Council Bluffs, but none of the renewable energy generated at the wind farm will go to power the data center. The project has already been contracted to sell the energy to the Central Iowa Power Cooperative and is expected to produce enough energy to power 15,000 homes.
The company now has nearly $1 billion in committed investments in various renewable energy projects around the country.
Evan Niu, CFA, has no positions in the stocks mentioned above. The Motley Fool owns shares of Google. Motley Fool newsletter services recommend Google. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
More from The Motley Fool
Why Alphabet Investors Don't Care About Voting Rights Anymore
Take a closer look at its two publicly traded classes of stock.
3 Companies Using Artificial Intelligence to Their Advantage
The companies' stocks could benefit as they take advantage of multibillion-dollar opportunities.
My 3 Biggest Stock Holdings
Netflix, Micron Technology, and Alphabet are crowding out all other tickers in this investor's real-money portfolio. Here's how, why, and what they're up to next.