In a bid to increase energy capacity and reduce carbon emissions, Google has announced a partnership with BlackRock to develop a 1-gigawatt pipeline of new solar capacity in Taiwan. The U.S. tech giant aims to support its growing demand for energy amidst the artificial intelligence boom.

Under the deal, Google will make a capital investment, pending regulatory approval, in Taiwanese solar developer New Green Power. This investment is set to facilitate the expansion of a large-scale solar pipeline. The specific amount Google plans to invest has not been disclosed.

The collaboration between Google and BlackRock aims to boost clean energy on Taiwan's electricity grid, aligning with Google's goal of achieving net-zero emissions across all its operations and value chain by 2030. The new solar capacity will be utilized to power Google's data centers and cloud region in Taiwan, providing an eco-friendly solution to meet its electricity needs.

Additionally, Google plans to offer a portion of the clean energy generated to its chip suppliers and manufacturers in the region. The company envisions procuring up to 300 megawatts of solar energy through power purchase agreements, along with associated energy attribute certificates, to meet the demand for its data center campus, cloud region, and office operations in Taiwan.

Taiwan, being a major producer of semiconductor chips and advanced AI processors, heavily relies on non-renewable energy sources such as coal and natural gas, with only 3% of its energy currently generated from renewables. This initiative to expand solar capacity will play a crucial role in diversifying its energy sources and reducing carbon emissions.

David Giordano, BlackRock's global head of climate infrastructure, emphasized the importance of investing in clean energy as the demand for digital services, powered by AI and data-centric technologies, continues to grow. This partnership with Google represents a step towards achieving sustainable energy solutions.

The move aligns with the broader trend of renewable energy development in the Asia-Pacific region. According to a report by Boston Consulting Group, renewable energy is predicted to account for 30% to 50% of the energy mix in most markets in the region by 2030, signaling the need for significant investment.

By joining forces with BlackRock, Google not only strengthens its commitment to clean energy but also contributes to the greening of Taiwan's energy infrastructure. Pending regulatory approval, this ambitious partnership has the potential to drive significant progress in the adoption of renewable energy sources and pave the way for a more sustainable future.