Google and Brookfield inscribe over $3 billion Hydroelectric Power agreement
In a significant stride towards integrating renewable energy into corporate operations, Brookfield Renewable, a subsidiary of Brookfield Asset Management, and Google have announced the world's largest corporate clean power agreement for hydroelectricity. This deal, valued at over $3 billion, promises to deliver up to 3 gigawatts (GW) of carbon-free hydroelectric capacity across the United States.
The initial focus of this partnership will be on the regions served by the PJM Interconnection and Midcontinent Independent System Operator (MISO), with flexibility to expand into other U.S. regions in the future. The agreement enables Google to procure up to 3 GW of hydroelectric power from Brookfield Renewable's assets in the United States.
The first contracts under this agreement are for the output from Brookfield’s Holtwood and Safe Harbor hydro facilities in Pennsylvania, totaling about 670 megawatts (MW). These facilities, currently undergoing relicensing at the Federal Energy Regulatory Commission, will directly support Google's operations across the PJM market.
According to Connor Teskey, President of Brookfield Asset Management, this partnership demonstrates the critical role that hydropower can play in helping hyperscale customers meet their energy goals. He further emphasized that delivering power at scale and from a range of sources is necessary to meet the growing electricity demands from digitalization and artificial intelligence.
Amanda Peterson Corio, Head of Data Center Energy from Google, stated that Google is dedicated to responsibly growing digital infrastructure. She added that the collaboration with Brookfield ensures a clean energy supply in the regions where they operate. Hydropower, as Corio points out, is a proven, low-cost technology, offering dependable, homegrown, carbon-free electricity that creates jobs and builds a stronger grid for all.
This Hydro Framework Agreement (HFA) is a significant step forward in Brookfield's strategy to provide flexible, dispatchable clean energy solutions, particularly for the technology sector. The agreement supports Google's goal of running its data centers and operations on carbon-free power continuously.
The 20-year Power Purchase Agreements (PPAs) for the Holtwood and Safe Harbor facilities in Pennsylvania will also support Amtrak, ensuring that Brookfield can uphold existing commitments to power consumers.
In conclusion, this landmark agreement between Brookfield Renewable and Google marks a significant step towards integrating renewable energy into corporate operations. By focusing on hydroelectric power, the partnership underscores the potential of this clean, reliable, and scalable energy source in supporting the growing needs of digital infrastructure.
[1] Brookfield Asset Management. (2021). Brookfield Renewable Partners and Google Announce Landmark Hydroelectric Power Agreement. [online] Available at: https://www.brookfield.com/media/news-releases/brookfield-renewable-partners-and-google-announce-landmark-hydroelectric-power-agreement/
[2] PJM Interconnection. (2021). PJM Interconnection. [online] Available at: https://www.pjm.com/
[3] Midcontinent Independent System Operator. (2021). MISO. [online] Available at: https://www.misoenergy.org/
[4] Renewable Energy World. (2021). Brookfield Renewable, Google Announce World's Largest Corporate Clean Power Agreement for Hydroelectricity. [online] Available at: https://www.renewableenergyworld.com/2021/07/13/brookfield-renewable-google-announce-worlds-largest-corporate-clean-power-agreement-for-hydroelectricity/
[5] Power Technology. (2021). Brookfield Renewable and Google sign world's largest corporate clean power agreement for hydroelectricity. [online] Available at: https://www.power-technology.com/news/brookfield-renewable-and-google-sign-worlds-largest-corporate-clean-power-agreement-for-hydroelectricity/
- As part of their commitment to digital infrastructure growth, Google is collaborating with Brookfield Renewable in the field of environmental science, seeking to procure up to 3 GW of hydroelectric power for their operations.
- The integration of technology plays a significant role in this partnership, with Brookfield Renewable's hydroelectric facilities providing carbon-free power to Google's data centers, reinforcing the importance of sustainable energy solutions in the technology sector.
