Google (GOOG) Not Shading Its Eyes From the Sun

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Google (GOOG) is one of those companies that cares about more than its bottom line. It is one of those companies that will do whatever it takes to help people … even if it means spending a lot of money along the way.

Google earnings GOOG stockThis is evident once again by Google’s agreement to build a solar power plant in Kern County, California. The 82 MW plant will be constructed on top of an oil and gas field, showing the world what GOOG thinks about traditional methods of energy production.

Google’s project — which is being done via a deal with SunEdison (SUNE) — will generate enough energy to power thousands of local homes.

Nick Coons, Renewable Energy Principal at Google, is excited about this project:

“Our investment in the Regulus solar project will give new life to a long-valued piece of land, and there’s something a little poetic about creating a renewable resource on land that once creaked with oil wells.”

It only makes sense for GOOG to spend some of its resources in California, and not just because it is home to its headquarters. California also is on the cutting edge of renewable energy, far out in front of many other states.

And this isn’t Google’s first rodeo when it comes to renewable energy investments. In fact, it is its 17th such investment over the past four years, including the fifth in California.

It is easy to look at Google and see a company that is making money hand over fist thanks to its online domination as well as its success in the technology sector, such as with its Android operating system.

However, this solar project is one of many others that show GOOG is interested in other ventures that simply do good for people — and the environment.

As of this writing, Chris Bibey did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2014/09/google-goog-shading-eyes-sun/.

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