Google has just signed a contract with an Iowa wind farm to purchase clean energy at a set rate for the next 20 years.

This move is in keeping with Google's strong environmental stance; with specific regard to energy consumption and wind-generated energy, the company has been championing PowerMeter and has invested $38 million in wind farms this year alone.

In fact, Google gained the ability to buy and sell electricity like any other public utility in February in order to achieve its goals for carbon neutrality and more efficient energy use in its massive data centers. This Power Purchase Agreement is the first deal brokered under the auspices of Google Energy.

On the official Google blog, Google's SVP Operations Urs Hoelzle wrote, "On July 30 we will begin purchasing the clean energy from 114 megawatts of wind generation at the NextEra Energy Resources Story County II facility in Iowa at a predetermined rate for 20 years... This power is enough to supply several data centers."

The company's long-term commitment will generate a significant amount of capital for NextEra to develop more wind projects.

"While we are happy to be purchasing renewable energy as part of our environmental commitment, this is also a structure that makes long term financial sense for Google," wrote another company rep. "Through the long term purchase of renewable energy at a predetermined price, we’re partially protecting ourselves against future increases in power prices. This is a case where buying green makes business sense."

What do you think of Google's latest move in its broader push for greener energy sources? Do you think the company is making a significant and positive impact on the environment, setting a good example for other corporations, or both?