Clearway Energy Group announced the signing of three new long‑term power purchase agreements with Google, adding 1.17 GW of carbon‑free capacity across Missouri, Texas, and West Virginia. The contracts will deliver renewable power to Google’s data centers in the SPP, ERCOT, and PJM regions for up to 20 years, creating a steady revenue stream for Clearway’s renewable portfolio.
The new agreements bring the total partnership capacity to 1.24 GW, including an existing 71.5‑MW PPA in West Virginia. The projects represent an investment of more than $2.4 billion in reliable energy infrastructure, with construction slated to begin in 2026 and the first sites expected online in 2027 and 2028.
The deal aligns with Clearway’s strategy to capture the growing demand for clean energy from hyperscalers. By securing long‑term, high‑volume PPAs, Clearway locks in predictable cash flows and positions itself as a preferred supplier for data‑center operators. The partnership expansion to 1.24 GW reinforces Clearway’s competitive edge in the U.S. renewable market.
The new capacity supports Clearway’s broader goal of expanding its renewable generation and storage assets to meet the projected 2030 Cash Available for Distribution (CAFD) per‑share target of $2.90‑$3.10. The 2025 CAFD guidance was narrowed to $420‑$440 million, and the 2026 guidance was set at $470‑$510 million, reflecting confidence that the new PPAs will contribute materially to future earnings and sustain the firm’s dividend policy.
Management highlighted the strategic importance of the partnership. Valerie Wooley, Senior Vice President of Origination, said the projects will deliver near‑term energy and capacity to help power Google’s data centers amid historic load growth. Amanda Peterson Corio, Google’s Global Head of Data Center Energy, emphasized that the collaboration will strengthen the grid and support economic growth in the regions served.
The announcement comes at a time when data‑center energy demand is accelerating, driven by AI workloads and digital infrastructure expansion. The long‑term nature of the contracts provides Clearway with revenue visibility that helps mitigate market volatility and supports its dividend policy, while the $2.4 billion investment underpins the company’s growth trajectory and ESG commitments.
Investors welcomed the announcement, reflecting confidence in the long‑term revenue stream and the company’s strategic focus on data‑center energy. Local communities stand to benefit from the projects through tax revenue and job creation, further reinforcing Clearway’s role as a responsible developer of clean energy infrastructure.
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