Alphabet Inc. (NASDAQ:GOOGL) inked an agreement with Berkshire Hathaway Inc. (NYSE:BRK) electric utility NV Energy to supply its data centers with advanced geothermal electricity.
Google stated that the deal, which is awaiting approval from state utility regulators, will increase the amount of carbon-free geothermal electricity supplied to the local power grid for its operations from 3.5 megawatts to 115 megawatts over approximately six years, reported Reuters.
NV Energy penned a power purchase agreement with Fervo Energy, which has supplied Google with 3.5 megawatts of power since their pilot program began in 2021, the report mentioned.
The agreement comes as leading technology companies seek substantial electricity supplies to power their expanding data centers, which are essential for supporting technologies like generative AI and cloud computing.
The partnership moves Google closer to its goal of running entirely on clean energy by 2030.
So far this year, Google has announced plans to invest at least $4 billion to build or expand data centers in Indiana, Missouri, and Virginia, the report further noted.
Last month, U.S. utility major Duke Energy Corp. (NYSE:DUK) signed similar deals with Amazon Inc. (NASDAQ:AMZN), Google, Microsoft Corporation (NASDAQ:MSFT), and Nucor Corporation (NYSE:NUE) to explore innovative approaches for supporting carbon-free energy generation and meeting the future energy needs of large businesses in North Carolina and South Carolina.
Price Action: GOOGL shares are down 0.71% at $176.53 at the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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