Google and Ormat: Power Partners in Alternative Energy?

While green funds in Israel have recently taken a dive, the general consensus seems to be that it still pays to invest in green in Israel. According to Haaretz, Google seems to think so, too. While the multi-billion dollar empire is reportedly interested in a number of Israeli cleantech companies, the only one which we know they have their eye on is Ormat–a world leader in geothermal energy.

How do we know? Pretty much the same way celebrity affairs are confirmed to the press: Google co-founder Larry Page visited an Ormat plant in Nevada.

Their goal: to develop methods of producing electricity from renewable energy sources that are cheaper than fossil fuel sources.

Larry Page is quoted as saying, “Our goal is to produce one gigawatt of renewable energy capacity that is cheaper than coal. We are optimistic this can be done in years, not decades.”

Since a gigawatt can power a large city, that is no small goal they have there. But the brains behind these companies are big, and Google is looking to buy into them with equally big bucks. We’ll just have to watch and wait.

Source: Haaretz