4 days ago
Google inks $3bn hydropower deal as industry intensifies clean energy hunt
Google has agreed to secure as much as 3GW of US hydropower in the world's largest corporate clean power pact for hydroelectricity, the company said on Tuesday, as Big Tech pursues the expansion of energy-hungry data centres.
The deal between Google and Brookfield Asset Management includes initial 20-year power purchase agreements, totalling $3bn (R53.43bn), for electricity generated from two hydropower facilities in Pennsylvania.
The tech giant will also invest $25bn (R445.25bn) in data centres across Pennsylvania and neighbouring states over the next two years, Semafor reported on Tuesday.
The technology industry is intensifying the hunt for massive amounts of clean electricity to power data centres needed for artificial intelligence and cloud computing, which has driven US power consumption to record highs after nearly two decades of stagnation.
Ruth Porat, president and chief investment officer at Google parent company Alphabet, is expected to discuss the news at an AI summit in Pittsburgh. US President Donald Trump is scheduled to attend the event, where $70bn (R1.25-trillion) in AI and energy investments are expected to be announced.
