AES stock price rises, announces agreement with Google on data centers

Investing.com – AES Corporation (NYSE:AES) rose 2% on Tuesday after the company announced an agreement with Google to co-generate power for a new data center in Wilbarger County, Texas.

The agreements include a 20-year power purchase agreement for co-generation, with AES owning and operating the power assets. Under a long-term energy management agreement, AES will also provide retail, cost optimization, and related services for Google’s data center campus.

AES has secured land and interconnection agreements and will build shared electrical infrastructure for the co-generation facility. The company will provide energized land and energy to support Google’s expansion.

“Our expanded partnership with Google demonstrates how AES can accelerate data center development by providing large-scale energized land and power,” said Andres Gluski, President and CEO of AES.

According to the company, AES has signed nearly 12 GW of energy agreements with data center clients, including 9 GW of power purchase agreements directly with hyperscale cloud service providers.

Amanda Peterson Corio, Google’s Global Data Center Energy Lead, said the collaboration will bring new clean energy generation directly next to the data center to minimize impact on the local grid and protect energy affordability. The facility will use advanced air cooling technology to eliminate operational water use.

According to Bloomberg New Energy Finance’s Corporate Energy Market Outlook, AES is a leading provider of clean energy for U.S. corporations, ranked as the top supplier among corporate clients over the past five years.

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