Google Invests in 161 Megawatt Texas Wind Project

  Google Invests in 161 Megawatt Texas Wind Project

Business Wire

MOUNTAIN VIEW, Calif. & AMARILLO, Texas -- January 9, 2013

Google Inc. and renewable energy developer EDF Renewable Energy today
announced that Google has made an approximately $200 million equity investment
in the Spinning Spur Wind Project, a 161 megawatt facility located in Oldham
County, Texas. The project was built by EDF Renewable Energy, a subsidiary of
EDF Energies Nouvelles, who remains an owner and manager in the project,
bringing its operational and management expertise in over 50 other renewable
energy projects to the partnership.

161 MW Spinning Spur Wind Project in Texas (Photo: Business Wire)

161 MW Spinning Spur Wind Project in Texas (Photo: Business Wire)

“We’re proud to be part of a project that provides the Lone Star state with a
new source of low-cost, renewable energy and supports the state’s thriving
wind industry,” said Kojo Ako-Asare, Senior Manager, Google Corporate Finance.
"This investment reflects Google's ongoing commitment to clean energy and our
belief that corporations can be an important new source of capital for this
sector."

“EDF Renewable Energy is pleased to engage with an innovative company like
Google on this equity financing,” said Jim Peters, Vice President of Project
Finance. “The partnership between our companies reflects a departure from
sourcing investment capital from traditional financial institutions for our
renewable energy projects. This transaction provides an opportunity for a
leading renewable energy developer to join forces with a leading technology
company to create value for both our companies and our respective customers.”

Construction of the Spinning Spur wind energy project commenced in February
and achieved commercial operation in late December. The Spinning Spur project
consists of 70 Siemens 2.3 MW turbines. The facility has the capacity to
generate enough clean energy to power approximately 60,000 average U.S. homes,
and the energy it produces has been contracted to SPS, a utility that
primarily serves Texas and New Mexico.

Spinning Spur joins 10 other renewable energy investments Google has made
since 2010, which together can produce 2GW of power.

AboutEDF Renewable Energy:

EDFRenewable Energy - formerly enXco - is a leading U.S. independent power
producer with more than 25 years of expertise in the renewable industry,
covering all range of services from project development, management to
operations and maintenance. EDFRenewable Energy specializes in wind and solar
photovoltaic with presence in other segments of the renewable energy market:
biogas, biomass, hydro, marine energy and storage solutions. The company
develops, constructs, operates and manages renewable energy projects
throughout the United States for its own accord as well as for third parties.
EDF Renewable Energy’s portfolio consists of over 3.5 gigawatts of developed
projects with 1.8 gigawatts of installed capacity. EDF Renewable Energy is the
U.S. subsidiary ofEDF Energies Nouvelles. EDF Energies Nouvelles is the
renewable energy arm of the EDF group, the leading electricity company in the
world. For more information visit: www.edf-re.com

About Google:

Google is a global technology leader focused on improving the ways people
connect with information. Google’s innovations in web search and advertising
have made its website a top Internet property and its brand one of the most
recognized in the world.

Google is a trademark of Google Inc. All other company and product names may
be trademarks of the respective companies with which they are associated.

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Contact:

EDF Renewable Energy Contacts:
Sandi Briner
858-521-3525
Sandi.Briner@edf-re.com
or
Allison+Partners
Jenny Corsey, APR
619-533-7981
EDFRE@allisonpr.com
or
Google Contact:
press@google.com
 
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