The tech industry is intensifying the hunt for massive amounts of clean electricity to power data centers needed for AI and cloud computing, driving power consumption to record highs.

Google agreed to spend more than $3 billion to buy power for its data centers from Brookfield Asset Management hydroelectric plants, with plans to potentially quadruple the amount of supply.

Google plans to buy up to 3 GW of energy from hydro projects owned by investing giant Brookfield. Why it matters: Interest from hyperscalers is driving renewed investment in one of the oldest and largest forms of clean energy.