Brookfield Asset Management and Google have signed a Hydro Framework Agreement (HFA) to deliver up to 3000MW of hydroelectric capacity across the United States. The deal marks the largest corporate agreement for hydroelectric power globally.
The first phase of the agreement includes long-term power purchase agreements (PPAs) for 670MW from Brookfield’s Holtwood and Safe Harbor hydroelectric plants in Pennsylvania. These contracts are valued at over $3 billion and will supply power to support Google’s operations in the PJM interconnection region.
Under the 20-year PPAs, Brookfield will continue supplying existing customers, including Amtrak, while allocating capacity to Google. Brookfield and Google will initially target the PJM and MISO markets, with the option to expand to other regions.
The HFA enables Google to procure electricity from Brookfield-owned hydro facilities that are being relicensed or upgraded to extend their operational life and maintain grid contributions. This aligns with Google’s goal of achieving 24/7 carbon-free energy across its operations.
“At Google, we’re dedicated to responsibly growing the digital infrastructure that powers daily life for people, communities and businesses,” said Amanda Peterson Corio, Head of Data Center Energy at Google. “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.”
Connor Teskey, President of Brookfield Asset Management, added: “Our partnership with Google 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 digitalization and artificial intelligence.”
Brookfield Renewable, a subsidiary of Brookfield Asset Management, operates one of the world’s largest publicly traded renewable energy platforms. Its portfolio includes hydroelectric, wind, utility-scale solar, and energy storage facilities.
