Brookfield Asset Management (BAM), a global investment firm, announced on Tuesday a new clean energy deal with Google to supply carbon-free electricity from hydroelectric facilities across the US.
BAM and its renewable enery subsidiary, Brookfield Renewable, have teamed up with Google to launch a new Hydro Framework Agreement (HFA) aimed at delivering up to 3,000 megawatts (MW) of clean hydroelectric capacity.
The first contracts under the deal cover the Holtwood and Safe Harbor hydroelectric facilities in Pennsylvania, securing around 670 MW of capacity.
The agreements, valued at over $3 billion, will support Google's operations in the mid-Atlantic region, helping the tech giant move closer to its goal of running entirely on carbon-free energy.
The 20 year power purchase agreements will also allow Brookfield to continue supplying power to existing customers, including Amtrak, from the Safe Harbor facility.
Connor Teskey, president of Brookfield Asset Management, said the agreement shows how hydropower can help large-scale digital infrastructure meet rising energy needs, especially as demand grows with the spread of artificial intelligence.
Amanda Peterson Corio, Google's head of Data Center Energy, described the deal as a significant step forward, adding, "Hydropower is a proven, low-cost technology, offering dependable, homegrown, carbon-free electricity that creates jobs and builds a stronger grid for all."
Over the past year, Google has announced a series of pioneering power purchase agreements, covering carbon-free geothermal energy and advanced nuclear power.
The company is also collaborating with PJM Interconnection, the largest electricity grid operator in the US, to deploy artificial intelligence in accelerating the integration of new energy sources into the grid.
By Humeyra Ayaz
Anadolu Agency
energy@aa.com.tr