Google is planning to invest a whopping €3 Billion in the Data Centres in Europe according to a report by Gadgets360. It is a huge investment and it will take the total amount invested by Google in Europe’s internet infrastructure to over €15 Billion since 2007. The announced was made by Sundar Pichai, CEO Google on 20th September.
This move comes amidst the huge fines that have been levied upon Google by the European authorities due to various breaches in users’ data privacy. Google has been in the middle of many such in the past couple of years.
Interestingly, Google is investing heavily in Europe’s renewable energy sector. Being an internet company, the renewable energy sector doesn’t come into Google’s ambit directly. However, the company has been investing in the sector for 3 major reasons.
The first reason is the need for renewable energy in the world to meet the energy requirements. It is a method to reduce the dependency in the traditional methods which has the potential to reduce the pollution that is generated during the production of energy through traditional resources such as by burning hydrocarbons.
The second reason is the potential to earn high profits. The renewable energy sector is hot right now reaping huge rewards. Just as many other new and revolutionary sectors, the renewables market is also very lucrative and Google doesn’t want to lose on this front.
The last but certainly not the least is Google’s attempt to paint a good picture of itself in the European continent. After the class action lawsuit against the company in the US, the company is now facing similar issues in Europe. Google has been accused of sharing users’ data with third parties without users’ consent.
It has been seen in the past as well that large corporates engage in activities, which help them to gain a good reputation in the market at times of distress and bad repute. This is Google’s chance to make a good name of the company amongst the various groups that are currently suspicious of Google’s activities in the internet world.
Renewable energy is a sector that is not only profitable but also crucial for tackling the issue of climate change. On one hand, Google’s investments in Europe’s Internet Infrastructure is about to create 13000 jobs in the internet sector that is a major plus for the company in the eyes of the European governments. On the other hand, Google’s investments in the Renewables sector is claimed to be generating a €1 billion, which another plus for the tech giant.