Google Inc. (NASDAQ:GOOG) is investing in a U.S. based wind farm power grid on the East Coast, reports CNN Tuesday morning. Google's official blog read as of Monday night, "We just signed an agreement to invest in the development of a backbone transmission project off the Mid-Atlantic coast that offers a solid financial return while helping to accelerate offshore wind development , so it's both good business and good for the environment."
The Atlantic Wind Connection farm will reportedly be located 10 miles offshore and will stretch 350 miles from New Jersey to Virginia. The farm will be able to produce 6,000 megawatts to power approximately two million homes. Google is undertaking the project with transmission company TransElect, and is footing 37.5% of the project's initial funds.
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