Google signs largest hydropower deal in history worth over $3 billion

Google will acquire up to 3 gigawatts of hydroelectric power in the United States as part of the world's largest corporate clean energy deal. The first contract under the Hydropower Framework Agreement (HFA) will provide the company with 670 megawatts of capacity and will cost the company more than $3 billion.

Under the agreement with HFA, Google will be able to purchase carbon-free electricity from Brookfield’s hydroelectric plants with a capacity of up to 3,000 MW. These plants will be upgraded, renovated or re-licensed to extend their operation. The first assets are the Holtwood and Safe Harbor hydroelectric plants in Pennsylvania. The contract is for 20 years.

"At , we’re dedicated to responsibly growing the digital infrastructure that powers daily life for people, communities and businesses. This collaboration with Brookfield is a significant step forward, ensuring clean energy supply in the PJM region where we operate. Hydropower is a proven, low-cost technology, offering dependable, homegrown, carbon-free electricity that creates jobs and builds a stronger grid for all," said Amanda Peterson Corio, Head of Data Center Energy at Google.

In addition, Google announced plans to invest more than $25 billion in data center and artificial intelligence infrastructure in the PJM region over the next two years.

Recall that other tech giants are also actively purchasing energy for their own data centers, which are mostly used for artificial intelligence. Earlier in June, Meta signed an agreement with XGS Energy to supply 150 MW of electricity from geothermal sources, as well as to purchase electricity from nuclear power plants. AWS is also investing $500 million in nuclear energy, and Microsoft signed an agreement to restore a closed nuclear power plant for $1.6 billion.