Capital Stage, a German private equity company, says it has sold a 49 percent stake of its newly acquired project to Google. If final approval is granted, both parties will operate the plant, which was completed in Brandenburg an der Havel last December.
According to a statement issued by the global internet giant, around 3.5 million will be invested in the project. It adds that it is the first time it has invested in renewable energy outside of its home country, the U.S.
Benjamin Kott, Clean Energy Advocacy Manager at Google stated: "Google sees its participation as an important contribution to promoting climate-friendly energy – and also as a solid financial investment. This ‘double dividend’ makes investments in renewable energy particularly attractive."
On Monday, Capital Stage announced it had acquired the 18.65 megawatt photovoltaic project for an undisclosed sum.