Data centers require a constant and unwavering supply of power. Recently, Alphabet Inc. (GOOGL - Free Report) owned search engine giant Google announced that it has bought 12 years worth of future power output for its datacenters in Europe from two wind power farms in Norway and Sweden, which have yet to be constructed.
Additionally, the company also mentioned in a separate statement that it has consented to purchase power from a smaller wind farm project in Sweden, which takes the total acquired output to 236 megawatts (MW).
The Deals in Detail
The 50-turbine, 160-megawatt Telleness wind farm was sold by Zephyr and Norsk Vind Energi and is expected to attain its optimum capacity by late 2017, which will also make it the second largest wind power farm in Norway.
On the other hand, the 22-turbine Sweden-based wind farm is expected to be complete by early 2018.
However, no information was available on the value of the deals.
Focus on Carbon Neutrality
Google is a carbon-neutral company. It is committed to power all of its operations through renewable energy sources, hence doing its part to create a cleaner and greener planet. In this regard, Marc Oman, EU Energy Lead, Google Global Infrastructure, noted that this wind power deal, which is Google’s first in Norway and the biggest to date in Europe, is a step toward fulfilling that commitment.
At present, Alphabet has a Zacks Rank #4 (Sell).
Stocks to Consider
Some better-ranked stocks in the broader technology space include Blucora, Inc. (BCOR - Free Report) , Blue Calypso, Inc. and Internap Corporation , each carrying a Zacks Rank #2 (Buy).
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