Google and Brookfield Asset Management have signed a first-of-its-kind $3 billion hydroelectric power framework agreement (HFA) to provide up to 3,000 megawatts (MW) of zero-emission hydropower capacity in the US.
The agreement represents the largest corporate hydroelectric power deal to date and will see the first contracted assets covering Holtwood’s Brookfield and Safe Harbor hydropower plants in Pennsylvania with a capacity of more than 670 MW.
Brookfield and Google said the supply will initially focus on the Mid-Atlantic Pennsylvania-New Jersey-Maryland Interconnection (PJM) and Mid-Continent Independent System Operator (MISO) power markets.
PJM is a regional transmission organisation (RTO) that coordinates wholesale electricity trading across much of the eastern US, including all or parts of thirteen states and Washington DC.
MISO is a non-profit organisation that manages the high-voltage grid and coordinates electricity transmission in 15 US states and Manitoba, Canada.
Google and Brookfield added they will retain the flexibility to expand its developments into other US regions.
With the move, Google strengthens its ambitions to power its operations with 24/7 carbon-free energy. The deal enables the tech giant to procure source carbon-free power from up to 3,000 MW of hydroelectric plants that will be relicensed, refurbished or upgraded to extend the life of the plants and continue to feed power into the grid.
Brookfield said it sees the deal as a model for scaling clean energy to meet growing digital and AI demands.
Commenting on the partnership, Amanda Peterson Corio, head of data centre energy at Google said: “This collaboration with Brookfield is a significant step forward, ensuring clean energy supply in the PJM region where we operate.”
She added that hydropower is a proven, “low-cost technology, offering dependable, homegrown, carbon-free electricity.”
Connor Teskey, president of Brookfield Asset Management, said the partnership proved the critical role that hydropower can play in helping customers meet their energy goals.
“Delivering power at scale and from a range of sources will be required to meet the growing electricity demands from digitalisation and AI,” he c
