News Summary

• Google has agreed to pay more than $3 billion to source carbon-free hydropower from Brookfield Asset Management’s company, Brookfield Renewable Energy Partners.
• The deal is part of a broader framework agreement that will allow Google to source up to 3 gigawatts of capacity in total.
• Google and its hyperscaler rivals, Meta, Amazon, and Microsoft, seek to source power for their seemingly ever-expanding data centers.
• This renewed demand for power has breathed new life into nuclear energy, boosted gas generation, and brought back focus on renewable energy.