- AES Corp. (AES -1.9%) says it will become the sole supplier of carbon-free electricity to power Google's (GOOG, GOOGL) Virginia-based data centers under a 10-year contract, sourcing energy from a portfolio of wind, solar, hydro and battery storage resources to be developed or contracted by AES.
- AES says "this first clean energy procurement deal in the world of its kind" will help ensure that the energy powering the data centers will be 90% carbon-free when measured on an hourly basis.
- The company says it assembled the 500 MW portfolio from its own renewable energy projects and those of third-party developers, and is expected to require $600M of investment.
- AES may have the potential to become "a NextEra for Latin America," RB Equity writes in a bullish analysis published on Seeking Alpha.