BlackRock’s portfolio company New Green Power to supply electricity to Google

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BlackRock’s Climate Infrastructure business is one of the major investors in Taiwan’s solar industry. Image: BlackRock.

Taiwanese solar developer New Green Power has announced an agreement to offer technology company Google the rights to procure up to 300MW of solar power from its development pipeline in Taiwan.

New Green Power said the partnership will include capital investment from Google, procurement of power from New Green Power’s solar assets in Taiwan and the opportunity to extend clean energy capacity to Google’s suppliers in the region.

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New Green Power is owned by a fund managed by BlackRock’s Climate Infrastructure business and has developed over 500MW solar projects in Taiwan and Japan. In the coming years, New Green Power will construct 1GW of new solar capacity.

The Taiwanese government announced plans to adopt more solar before. By 2025, Taiwan aims to have 20GW of solar capacity, which will increase to 80GW by 2050.

Recently, Taiwanese renewables developer GreenRock Energy formed a partnership with Malaysian solar company Solarvest to develop 1GW solar PV projects in Taiwan and Malaysia. A spokesperson from Solarvest told PV Tech that the portfolio will consist of a variety of solar PV projects, including rooftop, ground-mounted, floating and large-scale solar PV plants. The projects will be developed in the next five years, and there is “a possibility” of installing battery energy storage systems (BESS) alongside them.

Floating solar PV (FPV) developer Ciel & Terre Taiwan and renewables developer HEXA Renewables also completed the 192.3MWp final phases of a 440MWp floating solar project in Taiwan in February 2024.

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