Google, Sumitomo to invest in $2 bn wind farm

NEW YORK, USA: Google Inc and two Japanese partners will pay General Electric Co about $500 million for a majority stake in a wind farm under construction in Oregon, the partners said on Monday.

The $2 billion Shepherds Flat project, due to be completed next year, will stretch over 30 square miles of north-central Oregon and generate enough energy for 235,000 U.S. homes. The site's developer is Caithness Energy.

GE said the collaboration is part of its strategy of drawing private investment to the U.S. wind market. GE and Google are partnering with the U.S. unit of Japan's Sumitomo Corp and a unit of Itochu Corp.

Sumitomo jointly owns a Texas wind farm with GE and owns wind farms in Japan and China. Itochu partnered with GE on an Oklahoma wind farm. Google has invested more than $350 million in the clean energy sector. Earlier this month, it invested in a solar project near Berlin.