Alphabet (GOOGL) Secures Power Deals with AES, Xcel for Data Centers

Alphabet Inc. (NASDAQ:GOOGL) is one of 15 stocks with the biggest hedge fund momentum, after gaining 41 hedge fund holders during the fourth quarter of 2025. On February 24, Alphabet Inc. (NASDAQ:GOOGL)’s Google doubled down on efforts to secure power supply for its data centers across the country by entering into separate agreements with U.S. utilities AES Corp and Xcel Energy.

Xcel entered into an agreement to power Google’s new data center in Pine Island, Minnesota, while bringing 1,900 megawatts of new clean energy to the grid. The utility said the project would not raise costs for existing customers, as Google will pay all costs for its new service. Google will also invest $50 million in Xcel’s efforts to build a battery storage network across Minnesota.

Meanwhile, Arlington, Virginia-based AES said it had signed a 20-year agreement with Google to power a new data center in Wilbarger County, Texas. AES signed deals for energy generation that will be co-located with the new data center and enable Google to expand its operations to meet demand for its core services.

Alphabet Inc. (NASDAQ:GOOGL) is a holding company that operates Google services such as search engines, ad platforms, Internet browsers, devices, mapping software, app stores, video streaming, and more. The company also offers cloud infrastructure and platform services, collaboration tools, and other services for enterprise customers, as well as healthcare-related services and internet services.

READ NEXT: 13 Hot Stocks to Buy with the Highest Upside Potential and 10 Best High-Upside Materials Stocks to Buy

Disclosure: None.  Follow Insider Monkey on Google News.