The Google initiative is dubbed "REC," using a play on computer code to symbolize "renewable energy less than coal."

"I know it seems a little bit geeky, but it is a good description," Google co-founder Larry Page said of the name while discussing the initiative in a conference call with reporters.

"We want to rapidly push forward, produce a gigawatt of power, and have it done in years not decades. We feel if we can do it at that scale we could do it at a level significant in the world."

A gigawatt of power is enough to power a city the size of San Francisco, according to Google.

The US-based Internet colossus said it will invest in advanced solar, wind and geothermal power systems along with other technologies promising potential breakthroughs.

It expects to hire 20 to 30 engineers with expertise in energy.

"We have gained expertise in designing and building large-scale, energy-intensive facilities by building efficient data centers," Page said.

"We want to apply the same creativity and innovation to the challenge of generating renewable electricity at globally significant scale, and produce it cheaper than from coal."

Coal is burned to produce 40 percent of the world's electricity and is a major source of greenhouse gases responsible for global warming.

"Cheap renewable energy is not only critical for the environment but also vital for economic development in many places where there is limited affordable energy of any kind," said Google co-founder Sergey Brin.

Google's founders said there are budding technologies that can flourish with the proper backing.

"There has been tremendous work already on renewable energy," Page said.

"We are very interested in further developing other technologies that have potential to be cost-competitive and green."

Page said green electricity costing less per kilowatt than coal can be brought to market in "years not decades."

Google will invest tens of millions of dollars in research and hundreds of millions of dollars in green energy technology firms, according to Page.

"We are so excited about this because we've seen technologies that can mature into really worthwhile industries that haven't been talked about enough," Page said.

The REC initiative will operate through the Internet company's philanthropic arm Google.org, which has already taken on global health and poverty.

"Climate change affects health and makes it hard for people in the developing world to escape poverty," said Google.org executive director Larry Brilliant. "We want Google to be part of the solution."

Google is on track to be carbon neutral by year's end and has converted some company hybrid cars to "plug-in" electric vehicles.

Google said once it achieves its goal of producing green energy, with solar and high-altitude wind generation seeming the most viable at the start, it will sell electricity back to the power grid.

Google's founders said the Internet search and advertising firm does not plan to become a green power company but will license out successful technologies and partner with businesses in the field.

"We don't feel we need to own every piece," Brin said. "We just want to have this problem solved. We think it will be good for business as well."

Google.org will invest in green technology using portions of the three million shares of Google stock it was allocated when it was established, according to Larry Brilliant, executive director of Google.org.

Google.org is already working with California firms eSolar Inc. and Makani Power Inc.

ESolar replaces traditional power plant fuel with heat from solar energy. Makani Power Inc. specializes in wind power generated by turbines placed high in the atmosphere where air currents are strong and consistent.

"We really believe in this cause and want to encourage others to seek the same goal," Brin said. "We believe you can do this cheaper than coal and we are trying to make it happen now."

Brin bought a hybrid car for himself some five years ago and said he is grappling with the environmental guilt of using the jet plane he and Page bought for themselves with some of their Google wealth.

"We bought carbon offsets, but I'm not satisfied with that," Brin said of the jet.

"I've heard of experiments with biodiesel fueling of jets. It is unreasonable to think that people are going to stop traveling or using electricity. Technology is the answer."

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