Google announces renewable-energy plan |
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Tue, 27 Nov 2007 17:33
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MOUNTAIN VIEW, Calif. (AP) - Online search engine operator Google Inc. said Tuesday it will invest in developing ways to generate electricity from renewable energy sources that will be less expensive than electricity generated from coal.In a statement, the company predicted spending 'tens of millions' in research and development and other renewable-energy investments in 2008. Google added that it expects to invest 'hundreds of millions of dollars' in renewable-energy projects.'Our goal is to produce one gigawatt of renewable energy capacity that is cheaper than coal. We are optimistic this can be done in years, not decades,' Google co-founder Larry Page said in the statement.The initiative is dubbed 'Renewable Energy Cheaper Than Coal,' and Google said it will look at environmentally friendly energy sources such as advanced solar thermal power, wind power and enhanced geothermal systems.The work will be done through Google's philanthropic unit, Google.org.Google.org is currently working with solar thermal power company eSolar Inc. and wind power company Makani Power Inc.Page is scheduled to speak in a conference call at noon EST Tuesday to talk about the plan's launch, along with company executives Larry Brilliant and Bill Weihl.Google shares rose $4.54, to $670.54.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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