.jpg)
6 hours ago
1
Article content
(Bloomberg) — Google agreed to spend more than $3 billion to buy power for its data centers from Brookfield Asset Management hydroelectric plants, with plans to potentially quadruple the amount of supply.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
The power will come from the Holtwood and Safe Harbor plants, about 75 miles (121 km) southwest of Philadelphia, with 670 megawatts of generating capacity for 20 years, according to a statement.
Article content
Article content
Article content
Hyperscalers — the biggest data center developers that in addition to Google include Amazon.com Inc., Microsoft Corp. and Meta Platforms Inc. — have voracious appetites for electricity, and finding power supplies currently is one of the most critical pain points for the AI boom. The demand has revived enthusiasm for nuclear energy, caused the biggest buildout of gas generation in decades and boosted orders for new big turbines.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
The Brookfield-Google deal is part of an announcement of $70 billion of artificial intelligence and energy investments to be revealed Tuesday by the Trump administration. While the White House has taken steps advance in the global AI race, US President Donald Trump’s tariffs, executive moves and recent legislation ending tax incentives for renewable energy threaten to hobble that effort.
Article content
The Google-Brookfield contracts are the first in a framework agreement as Google seeks to procure as much as 3,000 megawatts of hydropower from Brookfield primarily on two adjacent grids stretching from the upper Midwest to the Gulf Coast and mid-Atlantic states. The agreement is being dubbed the first of it’s kind and the world’s largest corporate clean power deal for hydroelectricity.
Article content
Article content
Google said the deal will support its data centers and contribute to its carbon-free power goal as it tries to match energy consumption with clean resources on an hourly basis. Hydropower is attractive because output can in part be controlled to back up intermittent wind and solar. It provides round-the-clock power, unlike renewables.
Article content
While the Pennsylvania hydroelectric plants already supply the regional grid, the contracts will support Brookfield’s relicensing efforts to extend operations. Brookfield will consider expanding its hydropower portfolio through upgrades or acquisitions depending on Google’s needs, the developer said.
Article content
English (US)