Google and Brookfield Sign $3 Billion Deal in Largest U.S. Corporate Hydropower Agreement

Brookfield Asset Management, through its subsidiary Brookfield Renewable, has signed a landmark agreement with Google to provide up to 3,000 megawatts of carbon-free hydroelectric capacity across the U.S. The Hydro Framework Agreement, announced on July 15, is the largest corporate clean power deal for hydropower to date. On the same day, at the first Energy and Innovation Summit, President Trump, joined by tech and energy leaders, announced over $90 billion in AI and energy investments in Pennsylvania, including Google’s $25 billion commitment to data centers and infrastructure.

The initial phase of the deal includes 20-year power purchase agreements for Brookfield’s Holtwood and Safe Harbor hydroelectric facilities in Pennsylvania. Valued at over $3 billion and totaling 670 megawatts of capacity, the plants will continue serving legacy customers such as Amtrak while supplying new clean electricity to Google’s operations within the PJM Interconnection grid.

Brookfield plans to extend the life of these hydro assets through relicensing and modernization. For Google, the agreement advances its goal of powering operations with 24/7 carbon-free energy by adding firm, dispatchable clean power to its portfolio. The companies will initially focus on the PJM and Midcontinent Independent System Operator grid regions, with flexibility to expand nationwide.

The move highlights a growing shift among technology companies toward securing long-term, reliable clean energy resources. It also aligns with federal policy trends under the Trump administration, which recently emphasized the role of domestic clean energy in advancing artificial intelligence leadership.

Additionally, the recently enacted Big Beautiful Bill retains key tax credits for hydropower facilities, offering long-term certainty for owners of legacy assets. The legislation reflects growing recognition of hydropower’s role in meeting rising electricity demand while maintaining grid stability.

The Brookfield-Google initiative signals hydropower’s renewed importance in the clean energy transition, demonstrating how legacy assets can deliver firm, zero-carbon electricity for the data-driven economy.