In what is being hailed as the largest corporate purchase of renewable energy infrastructure, Google has just announced that they will be spending $2 billion on more solar and wind projects around the world.

According to a new blog post from the tech company, the initiative is projected to expand their renewable energy portfolio by 40%—or 5,500 megawatts (equivalent to the capacity of a million solar rooftops).

The new investment is not about buying power from existing wind and solar farms but instead will make long-term purchase commitments that result in the development of new projects.

The investments will collectively fund 18 new energy projects ranging from building solar farms in Texas to wind turbines in Sweden. In total, this brings the company’s fleet of renewable energy to 52 global projects, which is “driving more than $7 billion in new construction and thousands of related jobs.”

“We’ve been a carbon-neutral company since 2007,” wrote Google CEO Sundar Pichai. “In 2017, we became the first company of our size to match our entire annual electricity consumption with renewable energy (and then we did it again in 2018). As a result, we became the largest corporate buyer of renewable energy in the world.

“Once all these projects come online, our carbon-free energy portfolio will produce more electricity than places like Washington D.C. or entire countries like Lithuania or Uruguay use each year.”

RELATED: Australia is Creating Renewable Energy Faster Than Other Countries—and They’re Planting 1 Billion Trees to Boot

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