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Google plans to buy up to 3 GW of energy from hydro projects owned by investing giant Brookfield. 

Why it matters: Interest from hyperscalers is driving renewed investment in one of the oldest and largest forms of clean energy.

Zoom in: Brookfield Asset Management and Brookfield Renewable, in partnership with Google, have created what they're calling "the world's largest framework agreement for the purchase of hydroelectricity."

The agreement includes $3 billion in contracts for power from Brookfield's Holtwood and Safe Harbor dams in Pennsylvania. 

Brookfield owns close to 8 GW of hydro assets.

The companies plan to announce the news on Tuesday morning at the Pittsburgh summit on energy and AI, featuring President Trump and tech giants. 

The intrigue: The deal is focused on hydro assets that will be "relicensed, overhauled, or upgraded" to extend the life of the projects, the companies said.

Large conventional hydro assets are not getting built in the U.S. because of space constraints, environmental concerns and permitting queues. 

But older hydro assets are becoming increasingly attractive as interest in clean energy power for AI data centers soars. 

Brookfield also has a large deal to procure power for Microsoft. 

Yes, but: Relicensing a hydropower plant takes an average of eight years. 

The average age of a hydropower facility is 64 years. 

Catch up quick: Hydropower, which is energy produced by the flowing water of dams and rivers, makes up close to a third of utility-scale clean energy in the U.S. and supplies about 6% of total U.S. electricity generation.

Before there was solar and wind, hydropower was the bulk of American clean energy.

Many of the tech companies' first data centers were built in hydro-rich regions like Washington state and Oregon. 

The big picture: Republicans have shown support for hydropower as a clean baseload energy source. 

The recently passed OBBB maintained tax credits for hydro projects and pumped storage until 2033. 

There's also bipartisan support for permitting reform, which could aid the hydropower industry.

Google has seen its emissions jump by 51% since 2019, and its data center energy consumption rise by 27% over 2024, the company reported recently. Much of the recent spike is due to AI data centers. 

The bottom line: Hydropower is another part of the recent energy trend of what's old is new.

Google inks major hydropower deal with Brookfield

Soaring AI energy demand is making what's old, new again.

Illustration of Google's logo with the Earth replacing one of the "o"'s.

Google plans to buy up to 3 GW of energy from hydro projects owned by investing giant Brookfield. Why it matters: Interest from hyperscalers is driving renewed investment in one of the oldest and largest forms of clean energy.

Google inks major hydropower deal with Brookfield

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