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Investing in green energy in Greene County, Iowa
November 15, 2012
If you drive northwest from Des Moines, Iowa, you’ll see a lot of corn fields. From time to time, you’ll also see wind turbines rising out of those fields, making efficient use of our natural resources to produce renewable energy. It’s places like these that are home to a vibrant, emerging clean energy economy.
Today we‘re announcing that we’ve made an equity investment of $75 million in a 50MW wind farm in Rippey, a small town in Greene County, about an hour outside of Des Moines. The Rippey project, developed by
RPM Access
, is expected to produce enough energy to power over 15,000 Iowa homes. The project, which is now in operation, uses turbines produced by
Nordex USA
at their Jonesboro, Ark. facility.
Investment team members Nick Coons and Steffi Russell-Egbert visiting the Rippey project on a (windy) day in October.
We’ve taken two approaches to greening the grid in Iowa, a state where we
operate a data center
. Back in 2010,
we entered into
a long-term contract to purchase wind energy from NextEra Energy Resources’ Story County II wind farm. This time, we’re investing directly into a wind project, which has been contracted to sell all of the energy to the
Central Iowa Power Cooperative
, an Iowa-based utility that will deliver the energy to local consumers. We’re happy to help make more renewable energy available to Iowans and to support the growing wind energy industry in the state.
This project brings our committed investment to the renewable energy sector to more than $990 million. Read more about our previous investments on our
Google Green site
.
Posted by Axel Martinez, Assistant Treasurer, Head of Capital Markets
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