Tuesday, October 28, 2008

Google, Inc., Going Green

The New York Times reported, yesterday, Monday, October 27, that Google, Inc. was considering investing in Green Energy, taking the lead from its nonprofit, philanthropic arm, [Google.org].  Its nonprofit arm has been investing in Green energy for a period of time, and Google, Inc. now sees the potential in making a profit.  Below is an excerpt of the story:

Google, the Internet search and advertising giant, is increasingly looking to the energy sector as a potential business opportunity.

From its beginning, the company has invested millions of dollars in making its own power-hungry data centers more efficient. Its philanthropic arm has made small investments in clean energy technologies.

But in recent weeks, Eric E. Schmidt, Google’s chief executive, has hinted at the company’s broad interest in the energy business. He also joined Jeffrey R. Immelt, General Electric’s chief executive, to announce that they would collaborate on policies and technologies aimed at improving the electricity grid. The effort could include offering tools for consumers.

Meanwhile, engineers at Google are hoping to unveil soon tools that could help consumers make better decisions about their energy use.

And while the company’s philanthropic unit, Google.org, has invested in clean energy start-ups like one that uses kites to harness wind power, Google is now considering large investments in projects that generate electricity from renewable sources.

“We want to make money, and we want to have impact,” said Dan W. Reicher, director for climate change and energy initiatives at Google.org.

The timing could be off. With a recession looming and oil prices dropping, investors might pressure Google to curtail its clean energy ambitions.

For the full story, click here - The New York Times.


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