Project Loon is an initiative by Google to provide internet access to remote areas using balloons that float in the stratosphere, addressing the fact that two out of three people globally lack internet connectivity. Each balloon acts like a cell tower, covering 5,000 square kilometers, and is engineered to survive harsh atmospheric conditions while operating on renewable energy. The project also emphasizes environmental responsibility through the reuse and recycling of balloon materials and aims to conduct pilot tests in India in 2016.