Google has agreed to capital investments in New Green Power (NGP), a Taiwan-headquartered solar power developer fully acquired by BlackRock in August 2022.
The investment, exact size undisclosed, is part of an agreement reached by Google and BlackRock’s climate infrastructure business, which also includes NGP offering Google the rights to procure up to 300 megawatts of solar power from the developer’s pipeline of solar assets in Taiwan.
The clean energy capacity could also be extended to Google’s suppliers in the region, according to a July 1 press release.
A BlackRock spokesperson told FinanceAsia that Taiwan is “one of the most attractive energy transition markets in the world”, with authorities targeting 20 gigawatts of solar capacity by 2025, and up to 80 gigawatts by 2050.
The spokesperson added that strong fundamentals persist in energy transition investments in Taiwan, driven by growing energy demand and…
