Brookfield, Google Ink Deal For Up To 3000 MW Hydroelectricity

(RTTNews) - Brookfield Asset Management (BAM), together with Brookfield Renewable (BEP) and Google Tuesday said they have signed the worlds largest clean power deal for hydroelectricity to purchase up to 3,000 megawatts (MW) of carbon-free electricity.

The first contracts executed under the Hydro Framework Agreement (HFA) are for Brookfields Holtwood and Safe Harbor hydroelectric facilities in Pennsylvania, representing more than $3 billion of power and 670 MW of capacity.

The companies plan to focus in the mid-Atlantic (PJM) and mid-continent (MISO) electricity markets initially. The 20-year Power Purchase Agreements (PPAs) for Brookfields Holtwood and Safe Harbor hydroelectric facilities in Pennsylvania will support Google's operations across PJM.

"This collaboration with Brookfield is a significant step forward, ensuring clean energy supply in the PJM region where we operate.The first contracted assets consist of hydroelectric facilities in Pennsylvania that Brookfield is relicensing," said Amanda Peterson Corio, Head of Data Center Energy from Google.