Google Inc. (NASDAQ:GOOG) is investing in a deepwater transmission line project that may cost up to $5 billion throughout the next 10 years. The transmission lines would also run about 20 miles offshore from Virginia to New Jersey. The initial part of the project would be able to create 2,000 megawatts of wind energy. This wind energy could power about 500,000 homes.
Google would own over one-third of this project. Investment firm Good Energies, industrial company Marubenu, and utility company Trans-Elect would also have ownership in this project. The first phase of this project will cost about $1.8 billion and will run 150 miles in federal waters between New Jersey and Delaware. The project is expected to be completed by 2016.
This isn’t the first green project Google put money into. Google also invested $38.8 million in two North Dakota wind farms. As Google increases its dependence on data centers for indexing information on the Internet, the company has been developing ways to create new renewable energy sources. I commend them for taking charge in creating cleaner sources of energy.