BUSINESS

Google Planning To Invest In Renewable Power

03/28/2008 02:45 am ET | Updated May 25, 2011

Google Inc. said it expects to invest hundreds of millions of dollars in efforts to make renewable electricity cheaper than power from coal-fired plants, aiming to hasten the deployment of clean energy and save money for itself and others.

Co-founder Larry Page said the Internet company's goal is to facilitate, through investments in projects and companies, the building of power-generating facilities that can produce about 1,000 megawatts of renewable electricity -- as much as one or two conventional power plants -- for three cents a kilowatt hour or less. That would be inexpensive enough to compete, without public subsidies, against coal plants.

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