Google Inc. (Nasdaq: GOOG) has acquired Makani Power, an airborne wind turbine maker.
Makani, headquartered in Alameda, Calif., makes high-altitude wind turbines. The turbines are attached to land and fly into the air, similar to kites. On its website, the company says the deal with Google will allow it to accelerate its work to try to make wind energy costs competitive with fossil fuels. Terms of the deal were not disclosed
The company had $5 million in funding from Google in 2008. Makani was also backed by the Advanced Research Projects Agency- Energy, part of the U.S. Department of Energy.
This is not the first time Mountain View, Calif.-based Google has invested in green energy. The tech giant invested $200 million in an Oldham County, Texas wind project in January. The company has made 11 investments in the alternative energy sector, not include the Makani purchase. Google’s largest alternative energy investment was $280 million, which went to solar panel provider SolarCity.
Companies have been ramping up their investments in the alternative energy sector. In May, Green Energy Renewable Solutions Inc. merged with Cirque Energy II LLC, a renewable energy company. In April, First Reserve Corp. and Renovalia Energy bought two wind power plants in Mexico. Also in April, First Solar Inc. (Nasdaq: FSLR) announced it would buy TetraSun, which makes technology for solar panels.