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This is what Google & Portuguese energy giant EDP have in common

This is what Google & Portuguese Energy giant EDP have in common -
This is what Google & Portuguese Energy giant EDP have in common - Portugal Business News

Portugal news - This is what Google & Portuguese Energy giant EDP have in common: Google and Portuguese energy giant EDP have signed an agreement that is deemed to be the largest corporate sponsorship for distributed generation signed between two companies in the United States, according to S&P Global and BloombergNEF (BNEF) data.

Google is launching an initiative for environmental justice in the US and is planning to develop distributed solar generation in 6 States to benefit 25,000 low to middle-income families. This is why tech giant Google has just partnered with Portuguese energy giant EDP Group through its subsidiary in North America, EDPR NA Distributed Generation.

The Portuguese company that belongs to the EDP group will build and operate solar PV parks in six US States, with the first projects expected to be operational by the end of 2024.

The two corporations will develop around 80 distributed solar PV projects in the US. The first solar projects will begin in Ohio, where Google operates a data center campus in New Albany and a Google Cloud region in Columbus.

Google will partially fund the project through the acquisition of Impact Renewable Energy Certificates (RECs), an instrument that will certify that the corporation has obtained the rights to the environmental and social benefits of the renewable electricity produced.

The agreement between Google and EDP group will democratize access to cleaner energy for local communities and will also reduce the electricity bills of about 25,000 low to middle-income families. It also includes the creation of a community impact fund valued at $12 million for reducing energy poverty in the communities where the projects are to be developed.

Portuguese energy giant EDP is spearheading energy transition projects globally for a 24/7 carbon-free energy environment. EDP currently has around 1.4 GW of decentralized solar energy projects installed globally and is targeting an additional 3 GW. In the US, EDP Renewables is developing distributed generation through over 220 MWp of operational assets that span more than 440 projects across 20 North American states.


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