Google acquires stake in Blackrock owned solar firm: Google has purchased a stake in the Blackrock-managed Taiwanese solar firm New Green Power acquiring a 300 MW renewable energy portfolio, Reuters reported. The size of the stake was not disclosed but will support a 1 GW buildout pipeline. While Google has set plans to transition to carbon-free energy, the task will be difficult to achieve as demand for AI — which has high data processing and carbon-intensity — rises. The company’s base in Taiwan was using fossil fuels for 85% of its power, Global Head of Data Center Energy Amanda Corio told Reuters.

China Three Gorges to invest USD 11 bn in solar and wind: China Three Gorges Renewables Group will invest CNY 80 bn (USD 11 bn) in solar and wind energy expansion, Bloomberg reports. Part of the expansion will be a 16 GW renewable power and coal project with 5 GW storage capacity in northwest Inner Mongolia. The Chinese government wants to reach 455 GW of desert renewables capacity by 2030 of which 135 GW will be in Inner Mongolia.

The details: The renewables generation will depend on grid accessibility, the company told Bloomberg. China has been struggling with grid capacity, causing the country to turn to coal to supplement the intermittency of wind and solar power due to grid connection obstacles. The coal power facility is expected to begin operations in June of 2027.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

  • Ins. firms Zurich + Aon plan to boost hydrogen development: Ins. companies Zurich and Aon have teamed up to launch an insurance scheme to support the development of hydrogen energy projects. The initiative, which targets smaller ventures with up to USD 250 mn in capital expenditure, will provide comprehensive coverage for construction and operational risks. (The Financial Times)
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