Latest news with #ConnorTeskey
The Market Online
15-07-2025
- Business
- The Market Online
Brookfield and Google sign world's largest clean energy deal
Brookfield Asset Management (TSX:BAM), alongside subsidiary Brookfield Renewable (TSX:BEPC), are partnering with Alphabet's (NASDAQ:GOOG) Google to provide up to 3,000 megawatts (MW) of carbon-free hydroelectric capacity across the United States The partnership represents the largest corporate clean power deal in history Initial contracts alone will see Brookfield Renewable deliver 670 MW valued at US$3 billion over the next 20 years Brookfield Asset Management (TSX:BAM), alongside subsidiary Brookfield Renewable (TSX:BEPC), are partnering with Alphabet's (NASDAQ:GOOG) Google to provide up to 3,000 megawatts (MW) of carbon-free hydroelectric capacity across the United States. This content has been prepared as part of a partnership with Brookfield Asset Management Ltd., Brookfield Renewable Corp. and Alphabet Inc., and is intended for informational purposes only. According to Tuesday's news release, the partnership represents the largest corporate clean power deal in history, with 670 MW valued at US$3 billion in initial contracts to be delivered by Brookfield's Holtwood and Safe Harbor hydroelectric facilities in Pennsylvania over the next 20 years. Under the agreement, the energy will support Google's operations in the mid-Atlantic (PJM) and mid-continent (MISO) markets, with eyes on strategic expansion opportunities across the country. Both companies consider the partnership a win-win, as Brookfield Renewable sees a tailwind in providing clean energy to the rapidly growing tech sector, while Google sees value in powering its services with exclusively carbon-free energy, a milestone it intends to meet by 2030. Leadership insights 'At Google, we're dedicated to responsibly growing the digital infrastructure that powers daily life for people, communities and businesses,' Amanda Peterson Corio, head of data center energy at Google, said in a statement. '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.' 'Our partnership with Google demonstrates the critical role that hydropower can play in helping hyperscale customers meet their energy goals,' added Connor Teskey, president of Brookfield Asset Management. 'Delivering power at scale and from a range of sources will be required to meet the growing electricity demands from digitalization and artificial intelligence.' About Brookfield Asset Management Brookfield Asset Management is a top global alternative asset manager with over US$1 trillion in assets under management. Brookfield operates Brookfield Renewable Partners, one of the largest publicly traded platforms for renewable power and sustainable solutions. Brookfield Asset Management stock (TSX:BAM) is down by 0.69 per cent trading at C$77.55 as of 11:16 am ET. The stock has added 37.28 per cent year-over-year and by 81.57 per cent since 2020. Brookfield Renewable stock (TSX:BEPC) is up by 3.83 per cent trading at C$47.41 as of 11:24 am ET. The stock is up by 15.04 per cent year-over-year and by 24.79 per cent since 2020. Join the discussion: Find out what everybody's saying about these large-cap stocks on the Brookfield Asset Management Ltd., Brookfield Renewable Corp. and Alphabet Inc. Bullboards and check out the rest of Stockhouse's stock forums and message boards. Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein. For full disclaimer information, please click here.
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Business Standard
15-07-2025
- Business
- Business Standard
Google, Brookfield sign $3 bn hydropower pact for US data operation
Google has agreed to procure up to 3,000 megawatts (MW) of carbon-free hydroelectric power across the United States (US) through a new agreement with Brookfield Asset Management and Brookfield Renewable. The announcement comes amid rising power demands from technology giants, driven by the rapid growth of artificial intelligence and the expansion of data centres. The Hydro Framework Agreement (HFA) enables Google to purchase electricity from hydroelectric assets that will be relicensed, overhauled or upgraded to extend their useful life and maintain power generation. The first contracts signed under this agreement cover Brookfield's Holtwood and Safe Harbor hydroelectric facilities in Pennsylvania, representing over $3 billion in power and 670 MW of capacity, Brookfield Asset Management said in a statement on Tuesday. These 20-year power purchase agreements will support Google's operations within the PJM (mid-Atlantic) electricity market. The agreement allows Brookfield to continue supplying power to existing customers such as Amtrak from the Safe Harbor facility. 'This collaboration with Brookfield is a significant step forward, ensuring a 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," Amanda Peterson Corio, Head of Data Center Energy at Google, said. Meanwhile, Connor Teskey, President of Brookfield Asset Management, added that the partnership demonstrates the critical role that hydropower can play in helping hyperscale 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 artificial intelligence," Teskey said.
India.com
24-05-2025
- Business
- India.com
Why is US willing to do everything to get THIS thing from India, Pakistan, China will suffer
New Delhi: America is now focusing on India. Its attention is now on India's nuclear energy. An American company, Brookfield Asset Management Limited, is one of the major investors planning to invest in India. The company plans to invest over 100 billion dollars in India over the next five years. A senior official from the company stated that they are also ready to support nuclear power projects. Recently, the government has also promoted this sector. If America's investment in India increases significantly, it will raise tensions for both Pakistan and China. Here's the full story. India is actively enhancing its nuclear energy capacity to meet the growing energy demand and achieve environmental goals. The government has taken steps to increase nuclear power capacity from the current 8,180 megawatts to 22,480 megawatts by 2031-32. This expansion includes the construction and commissioning of 10 reactors with a total capacity of 8,000 megawatts in Gujarat, Rajasthan, Tamil Nadu, Haryana, Karnataka, and Madhya Pradesh. Additionally, pre-project activities have commenced for ten more reactors, which are planned to be completed by 2031-32. Furthermore, the government has granted in-principle approval to establish a 6 x 1208 megawatt nuclear power plant in Kovvada, Srikakulam district of Andhra Pradesh, with support from the United States. Prime Minister Narendra Modi has discussed cooperation on nuclear energy during visits to France and the United States. India needs to become a leader in nuclear energy because it is a reliable and environmentally friendly energy source. In fact, nuclear energy is the fifth largest source of electricity in India. It contributes about 2-3% to the country's total electricity generation. Not only does it not emit greenhouse gases, but it also provides regular electricity supply. It has the least impact on environmental resources such as land and natural resources. America is keeping an eye on this. India's goal is to achieve a nuclear energy capacity of at least 100 gigawatts by the year 2047. To achieve this target, there is a need to increase nuclear energy production in India. There is a need to strengthen the infrastructure associated with nuclear energy. As soon as India amends its nuclear liability law, it will attract foreign companies that are hesitant to invest due to the fear of hefty penalties. Brookfield is headquartered in New York. Its goal is to double its assets from nearly 1 trillion dollars during this time. Connor Teskey, the president of Brookfield Asset Management said, 'We believe in nuclear energy. We think it is a good way to provide clean and consistent electricity. It will help meet the growing demand for energy worldwide.' He said that the demand for clean energy will increase in the future, which includes natural gas and nuclear energy. India's Small Reactors (BSR) are essentially compact nuclear reactors designed to generate electricity on a smaller scale compared to traditional large nuclear power plants. BSRs will be based on India's tested and proven 220 megawatt Pressurized Heavy Water Reactor (PHWR) technology, of which 16 units are already operational in the country. Currently, 24 reactors are deployed and 10 more will be built.
Time of India
23-05-2025
- Business
- Time of India
Brookfield looks to treble India assets in 5 yrs
MUMBAI: Brookfield Asset Management is aiming to more than triple its assets under management in India to $100 billion over the next five years, a senior official said on Thursday. Connor Teskey, the president of the New York-headquartered global asset manager, said it expects the global AUM to double over the next five years from the present $1 trillion, and the growth in emerging markets like India would be higher. At present, the AUM in India, where the firm has been investing for over 15 years, is $30 billion in assets across sectors like infrastructure, real estate, renewable power and also private equity. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Economic Times
22-05-2025
- Business
- Economic Times
Brookfield eyes $100 bn portfolio in India; explores opportunities in nuclear power projects
Reuters This is a representational image Brookfield Asset Management Ltd., one of the largest investors in India's infrastructure sector, plans to cross the $100 billion investment mark in the country in the next five years and is open to backing nuclear power projects, a segment that has seen a policy push in recent months, said a senior company New York-headquartered firm also aims to double its nearly $1 trillion assets under management during this period.'We are believers in nuclear (energy). We do think it provides clean, dispatchable baseload power and that is beneficial to the stability and growing demands for energy around the world. We are invested in the nuclear sector on a global basis,' Connor Teskey, president, Brookfield Asset Management, said on said the demand for clean energy, including natural gas as a transition fuel and nuclear (energy), would only go up in the near the US, Brookfield owns Westinghouse Nuclear, a major player in the nuclear energy sector, providing nuclear power plants, fuel and services to utility customers worldwide. 'More than half the nuclear power generation assets around the world run on Westinghouse technology. We are a global supplier to the nuclear power generation sector. And as there are opportunities in different markets around the world, we assess those on an individual basis," Teskey the firm's investment strategy '3Ds' – decarbonisation, digitalisation and deglobalisation – he said these trends, which have driven a significant amount of growth in the past five years, will continue to offer a 'multi-decade runway in terms of growth opportunities'.Since 2014, the firm has deployed about $30 billion in the country in transactions such as the acquisition of ATC Towers, the telecom towers of Reliance Jio and the East-West Pipeline (formerly Reliance Gas Transportation Infrastructure) from Reliance Industries. Of this, $12 billion each has been invested in infrastructure and real estate, another $3 billion in renewable power and transition, and $3.6 billion in private equity and Brookfield Special Investments. Teskey said a combination of growth prospects in clean energy in India, the number of quality players and the government's ambition makes India poised to be the next clean energy superpower. 'We are keen on areas such as digital infrastructure, transportation infrastructure, utilities and power generation as well. We will look to invest in India very much in the same themes and focuses that we invest in around the world,' he said. The firm has invested heavily in data centres, telecom towers and fibre networks.'When it comes to other commodities, we're investors in midstream assets and utilities and transmission lines. And all of that will continue to be enhanced and built out in India as the economy continues to grow, both due to domestic demand and the growing role that it can play around the world,' Teskey Brookfield will focus on financial services and manufacturing sectors in India in the near future. 'India's rapidly growing middle class is a large consumer market. I would say those are probably where we will continue to focus. Most of the leading global multinationals do have large and growing presence in the country. We can build our own or operate assets to serve that corporate demand,' Teskey real estate, Brookfield is among the largest office owners and operators in India, with more than 55 million square feet across top nine office markets. It also owns Leela Hotels chain, which comprises 3,553 keys across 13 operational hotels, and is gearing up for a Rs 3,500 crore initial public ruled out major business disruptions due to the ongoing tariff wars and the consequent geopolitical uncertainties. 'We want to own high quality critical assets in markets that have strong tailwinds and the key themes and dynamics that we are investing in today completely overwhelm any short term uncertainty or headline noise,' he said. 'There has been some level of uncertainty around the world to start 2025, but it has had absolutely no impact on our willingness to deploy capital. That completely overwhelms any short-term noise."
