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Google To Invest $168M In Solar Project

Google on Monday announced that it is planning to invest $168 million in Brightsource Energy Inc.'s Ivanpah thermosolar energy project, located in California's Mojave Desert.

Upon being fully functional, presumably in 2013, the Ivanpah Solar Electric Generating System will reportedly become the largest solar project in the world. With a field full of mirrors, the sunlight will be reflected onto three gigantic towers, which will evaporate water to form steam, which in turn will drive the turbines, thus generating power.

The Stanford based tech giant also revealed that its investment in the clean energy sector has now reached a new height of $250 million, the Ivanpah project being the largest one till this date.

"Securing the financing for the Ivanpah project positions Brightsource as the world leader in thermosolar energy, and makes us the most important renewable energy company in the world," said Brightsource Energy VP R&D and Engineering Israel Kroizer in his statement to the Globe.

Chances are that Google may not earn any direct profit from the power plant. But experts believe that it may be just a small part of a bigger plan on the company’s part, especially considering its earlier investments along the transition lines.