Google isn't content with merely being a dominant force in the tech industry: it intends to make its mark in energy as well. We first learned of the company's energy ambitions in January when it applied for a permission to buy and sell power. Then, in May, it invested in some wind farms. Now, Google Energy has a deal to purchase 114 megawatts of wind power from NextEra Energy Resources. Rather than use the power itself, Google will sell it on the spot market. Business Insider reports:
Google says that 114 megawatts "is enough to supply several data centers." Too bad Google doesn't have any data centers located close enough to the Iowa wind farm to use the energy. Instead, Google will sell the power on the spot market.
Since Google is purchasing 20 years worth of power "at a predetermined rate", this amounts to speculation in the energy market.