|Follow us on:|
Google secured its first renewable energy project in the African continent last week, investing $12 million in a solar energy project in South Africa.
According to an announcement made on Monday by Photon International, the total investment in the Jasper solar project has hit $260 million, a 96 megawatt solar photovoltaic plant developed in the Northern Cape.
Google gave credit to the supportive polices for renewable energy in the biggest economy in Africa, which had the highest growth rate in clean energy investment last year, the announcement put on its official blog said.
“The project, developed and funded by SolarReserve, Intikon Energy and the Kensani Group, is also backed by Rand Merchant Bank, the Public Investment Corporation, Development Bank of South Africa and the PEACE Humansrus Trust,” the announcement said.
Google, whose renewable energy projects in Africa will primarily focus on the geothermal in eastern Africa, has invested more than $1 billion in renewable energy projects, mostly in the US and Europe.
South Africa was the fastest-growing clean energy market in the G20, with investment growing from less than $30 million in 2011 to $5.5 billion in 2012.
China and South Africa were singled out by a Pew Report as leading record investment drives for clean energy.
With inputs from Agencies