• November 28, 2007

Google's high-flying market valuations and "new economics" have occasionally drawn some comparisons with Enron, a company that tried to mix energy markets with the media marketplace. Now the online search giant is following a reverse path, utilizing its strong media marketplace position to move into the energy business, albeit alternatively. Google revealed its latest industry bombshell Tuesday, unveiling plans for Renewable Energy Cheaper than Coal (REC), an initiative to develop means of producing cleaner, renewable energy worldwide, including solar, wind and geothermal power systems. In coming months, Google said it plans to hire engineers and energy experts, and partner with established renewable resource providers like Pasadena-based eSolar and Alamada-based Makani Power for solar and wind projects, respectively.