Google signs the world's largest contract for the supply of hydroelectric power for $3 billion

Google has entered into a large-scale agreement with Canada's Brookfield Asset Management to supply up to 3 GW of hydroelectric power to the United States. This is the world's largest corporate contract for the supply of "green" hydropower. About this writes Reuters.

It is about electricity from two hydroelectric power plants in Pennsylvania, which Google will buy under 20-year contracts totaling $3 billion. Both plants will be modernized and receive new licenses.

In addition, the company plans to invest $25 billion in the development of data centers in Pennsylvania and neighboring states over the next two years.

According to Google, this step is critical to ensure the development of artificial intelligence and cloud services, which require a huge amount of electricity.

Energy demand in the US is now at a record high due to the rapid growth of IT infrastructure.

"This collaboration with Brookfield is a significant step forward in securing clean energy supplies in the PJM region where we operate," said Amanda Peterson Corio, Google's data center energy project manager.

Alphabet CEO Ruth Porat is expected to announce the deal at the AI Summit in Pittsburgh, where US President Donald Trump is also scheduled to speak .

It is planned to announce $70 billion of investments in artificial intelligence and energy.

In the future, Google plans to expand cooperation with Brookfield to other regions of the United States.

• In May, Google became an early-stage investor in three nuclear power plants in the U.S..
• In June, Facebook's parent company Meta signed a 20-year power purchase agreement with Constellation Energy, the largest U.S. nuclear operator.