Google just signed an agreement to invest in the development of a backbone transmission project off the Mid-Atlantic coast that offers a solid financial return while helping to accelerate offshore wind development—so it’s both good business and good for the environment. The new project can enable the creation of thousands of jobs, improve consumer access to clean energy sources and increase the reliability of the Mid-Atlantic region’s existing power grid.
When built out, the Atlantic Wind Connection (AWC) backbone will stretch 350 miles off the coast from New Jersey to Virginia and will be able to connect 6,000MW of offshore wind turbines. That’s equivalent to 60% of the wind energy that was installed in the entire country last year and enough to serve approximately 1.9 million households.
The AWC project is led by independent transmission company Trans-Elect and is financed by Google, Good Energies and Marubeni Corporation. We are investing 37.5% of the equity in this initial development stage, with the goal of obtaining all the necessary approvals to finance and begin constructing the line. Although the development stage requires only a small part of the total estimated project budget, it represents a critical stage for the project.
Read more on the Official Google Blog