Google and Microsoft to Invest in Offshore Wind?
Google and Microsoft, in the market to green their electricity-hungry images, may look to invest in offshore wind in the U.K., the FT reports today.
The companies had no comment and it isn’t clear if the source for the story, Bank of America Merrill Lynch head of power for Europe John Lynch, is just trying to drum up investors or if he actually knows something.
Still, it’s an intriguing idea that Google and Microsoft would look to offset their increasing energy use – the U.S. Environmental Protection Agency estimates that data centers accounted for 1.5 percent of electricity usage in 2006, and the number should double by 2011 – with investments in power generation.
Google has already invested in green energy ventures such as BrightSource Energy and eSolar through its Google Ventures arm. But the Mountain View, Calif.-based Web giant has so far fallen short of its goal to invest hundreds of millions of dollars in the sector.
Microsoft has been less active on the investing front, but makes a good show of being green with its Microsoft Environment Web site with replete with tips on environmentally sustainable data centers.
The offshore projects sure need the funding.
Lynch says that project financing from banks has dropped 50 to 80 percent from pre-crash levels. That’s a lot of slack and tech companies could step in and take at least a minority stake.
Charles Anglin of the British Wind Energy Association tells FT, “Companies with a big electricity bill will be looking to get into the business and supply themselves,” he said.
Photo: Courtesy Flickr
