Brookfield Asset Management and Google Seal Largest Hydroelectric Deal

Brookfield Asset Management has entered into a groundbreaking Hydro Framework Agreement with Brookfield Renewable and Google, aiming to supply up to 3,000 megawatts of clean hydroelectric power across the US. This marks the largest corporate clean energy deal for hydroelectricity, with initial agreements involving Brookfield's Holtwood and Safe Harbor facilities in Pennsylvania. The 20-year Power Purchase Agreements will benefit Google's operations while enabling Brookfield to meet existing commitments.

Brookfield Asset Management, in collaboration with Brookfield Renewable and Google, has announced a groundbreaking Hydro Framework Agreement (HFA) to deliver up to 3,000 megawatts (MW) of carbon-free hydroelectric power across the United States. This marks the largest corporate clean energy deal for hydroelectricity, with initial agreements involving Brookfield's Holtwood and Safe Harbor facilities in Pennsylvania, totaling 670 MW of capacity.

The agreement, signed on July 15, 2025, includes a $3 billion contract for the two facilities, representing a significant milestone in the renewable energy sector. The 20-year Power Purchase Agreements (PPAs) will benefit Google's operations while enabling Brookfield to maintain existing commitments to power consumers such as Amtrak from the Safe Harbor facility.

Amanda Peterson Corio, Head of Data Center Energy from Google, stated, “At Google, we are dedicated to responsibly growing the digital infrastructure that powers daily life for people, communities, and businesses. 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, commented, "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."

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. 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 asset’s useful life and continue adding power to the grid.

The first contracts executed under the HFA are 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 Asset Management is a leading global alternative asset manager, headquartered in New York, with over $1 trillion of assets under management. Brookfield invests client capital for the long term with a focus on real assets and essential service businesses that form the backbone of the global economy. Brookfield operates Brookfield Renewable Partners, one of the world’s largest publicly traded platforms for renewable power and sustainable solutions.

References:
[1] https://bam.brookfield.com/press-releases/brookfield-and-google-sign-hydro-framework-agreement-deliver-3000-mw-homegrown
[2] https://www.quiverquant.com/news/Brookfield+Asset+Management+and+Google+Sign+World%27s+Largest+Hydro+Framework+Agreement+for+Over+%243+Billion+in+Renewable+Energy+Contracts