BlackRock’s Climate Infrastructure business has announced an innovative partnership with Google in Taiwan, through which the tech giant will make capital investment in BlackRock’s portfolio company New Green Power (NGP).
NGP also will offer Google the rights to procure up to 300 megawatts of solar power from NGP’s development pipeline of solar assets in Taiwan, as well as the opportunity to extend clean-energy capacity to Google’s suppliers in the region.
This partnership is expected to help Google advance its climate goals while facilitating NGP’s additional solar pipeline buildout. NGP is aiming to construct 1 gigawatt of new solar capacity in the coming years. Solar is a key technology in Taiwan’s energy transition, with authorities targeting 20 gigawatts of solar capacity by 2025 and up to 80 gigawatts by 2050.
“We’re aiming to reach net-zero emissions across our operations and value chain, supported by a goal to run on 24/7 carbon-free energ