Search Results: Google/Hydro

Tech giant agrees to deal with Brookfield Assets Mgmt for 3,000 MW of power

Clean energy developer Brookfield Renewable made a big splash this week when the Toronto-based company announced a partnership with Google. The collaboration reportedly involves what the companies describe as "a first-of-its-kind" Hydro Framework Agreement (“HFA”) to deliver up to 3,000 megawatts (MW) of carbon-free hydroelectric capacity across the United States. If achieved, the project would be the world’s largest corporate clean power deal for hydroelectricity.

The first contracts set to be executed under the HFA are slated for Brookfield’s Holtwood and Safe Harbor hydroelectric facilities in Pennsylvania, representing more than $3 billion of power and 670 MW of capacity.

The HFA "represents a significant step forward in Brookfield’s strategy to deliver flexible, dispatchable clean energy solutions to the technology sector and supports Google’s ambition to power its operations with 24/7 carbon-free energy," Brookfield said in a July 15 press release.

Brookfield Renewable's Holtwood (PA) hydroelectric facility.--Brookfield photo

Under the HFA, Google has the ability to procure carbon-free electricity from up to 3,000 MWs of hydroelectric assets that will be relicensed, overhauled, or upgraded to extend the assets' useful life and continue adding power to the grid. The first contracted assets consist of hydroelectric facilities in Pennsylvania that Brookfield is relicensing. Brookfield and Google will initially focus in the mid-Atlantic (PJM) and mid-continent (MISO) electricity markets, with the flexibility to expand into other U.S. regions.

The 20-year Power Purchase Agreements (“PPAs”) for Brookfield’s Holtwood and Safe Harbor hydroelectric facilities in Pennsylvania will support Google’s operations across PJM. The transaction structure allows Brookfield to maintain existing commitments to power consumers such as Amtrak from the Safe Harbor facility.