Best stocks to invest in – Google Buys Clean Energy to Power European Datacenters



Best stocks to invest in

Data centers require a constant and unwavering supply of power. Recently, Alphabet Inc. GOOGL owned search engine giant Google announced that it has bought 12 years worth of future power output for its datacenters in Europe from two wind power farms in Norway and Sweden, which have yet to be constructed.

Additionally, the company also mentioned in a separate statement that it has consented to purchase power from a smaller wind farm project in Sweden, which takes the total acquired output to 236 megawatts (MW).

The Deals in Detail

The 50-turbine, 160-megawatt Telleness wind farm was sold by Zephyr and Norsk Vind Energi and is expected to attain its optimum capacity by late 2017, which will also make it the second largest wind power farm in Norway.

On the other hand, the 22-turbine Sweden-based wind farm is expected to be complete by early 2018.


However, no information was available on the value of the deals.

Focus on Carbon Neutrality
 
Google is a carbon-neutral company. It is committed to power all of its operations through renewable energy sources, hence doing its part to create a cleaner and greener planet. In this regard, Marc Oman, EU Energy Lead, Google Global Infrastructure, noted that this wind power deal, which is Google’s first in Norway and the biggest to date in Europe, is a step toward fulfilling that commitment.  

At present, Alphabet has a Zacks Rank #4 (Sell).

Stocks to Consider

Some better-ranked stocks in the broader technology space include Blucora, Inc. BCOR, Blue Calypso, Inc. BCYP and Internap Corporation INAP, each carrying a Zacks Rank #2 (Buy).

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
INTERNAP NETWRK (INAP): Free Stock Analysis Report
 
BLUE CALYPSO (BCYP): Free Stock Analysis Report
 
BLUCORA INC (BCOR): Free Stock Analysis Report
 
ALPHABET INC-A (GOOGL): Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research

Comments

– Best stocks to invest in

FIND THE BEST STOCKS TO BUY NOW




Source link