Google agreed to purchase 100% of the initial power from the Steel River Energy Center in Arkansas. The virtual power purchase agreement covers 1.6 gigawatts of solar power. The deal also includes 2 gigawatt-hours of battery storage. This facility will become one of the largest solar and battery storage projects in the United States when it opens in 2029.
Developer Cypress Creek Energy recently secured $3.5 billion in financing for the project's first two phases. While the parties did not disclose financial terms, Google’s long-term commitment helped secure the project financing. This agreement supports Google’s goal to run its data centers and operations on carbon-free energy. Technology companies are increasingly securing massive clean energy deals to meet the power demands of artificial intelligence and cloud computing.