In return for its investment, Google now controls a 49 percent stake in a power plant that has a peak capacity of 18.65 MW and is located on a 116 acre site — previously used as a Russian military training ground — in Brandenburg an der Havel, approximately 50 miles from Berlin.
In a blog post the company cheekily said "Until the early 1990s, the site was used as a training ground by the Russian military. We’re glad it has found a new use."
The silicon valley-based company will provide solar power to more than 5000 homes in the surrounding area.
“Google sees its participation as an important contribution to promoting climate-friendly energy – but also as a solid financial investment. This double dividend makes investments in renewable energy particularly attractive,’ said Benjamin Kott, clean energy advocacy manager at the company.
Capital Stage, the investment firm which is selling Google its stake (pending regulatory approvals) said it will continue to operate in the solar park, which was the largest built in Germany in 2010.
The investor has acquired 14 solar plants since 2009 with a combined capacity of 74 MW in Germany and Italy, adding to the wind farm it has in its portfolio.
“We are proud to have for the joint operation of the solar park Brandenburg won the confidence of our partner Google to who shares our positive assessment of future prospects of renewable energy,” said Felix Goedhart, CEO of Capital Stage. “This shows that we in the solar business park in the last years of valuable experience and have gained a high degree of professionalism.”
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