Google Signs Nearly 1.2 GW Power Agreements with Clearway Energy
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: NASDAQ.COM
- Power Supply Assurance: Google has signed nearly 1.2 GW of long-term power purchase agreements with Clearway, ensuring the electricity needed for its cloud and AI operations, demonstrating the company's proactive approach to future energy demands.
- Project Scale and Impact: The agreements cover multiple projects in Missouri, Texas, and West Virginia, expected to provide power for over 700,000 homes, further solidifying Google's leadership in the renewable energy sector.
- Deepening Strategic Cooperation: This partnership with Clearway represents the latest in a series of energy agreements, indicating Google's ongoing commitment to renewable energy investments aimed at reducing operational costs and enhancing market competitiveness.
- Future Growth Potential: By collaborating with leading energy producers like Clearway, Brookfield, and NextEra Energy, Google not only secures its power supply but also provides robust support for the development of its AI tools, which is expected to drive future business growth.
Analyst Views on CEG
Wall Street analysts forecast CEG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CEG is 403.30 USD with a low forecast of 347.00 USD and a high forecast of 478.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
8 Buy
3 Hold
0 Sell
Moderate Buy
Current: 341.200
Low
347.00
Averages
403.30
High
478.00
Current: 341.200
Low
347.00
Averages
403.30
High
478.00
About CEG
Constellation Energy Corporation is a producer of emissions-free energy and an energy supplier to businesses, homes and public sector customers nationwide. The Company’s nuclear, hydro, wind, and solar generation facilities have the generating capacity to power the equivalent of 27 million homes, providing about 10% of the nation’s clean energy. Its segments include Mid-Atlantic, Midwest, New York, ERCOT, and Other Power Regions. Through its integrated business operations, it sells electricity, natural gas, and other energy-related products and sustainable solutions to various types of customers, including distribution utilities, municipalities, cooperatives, commercial, industrial, public sector, and residential customers in markets across multiple geographic regions. It operates approximately 55 gigawatts of capacity from nuclear, natural gas, geothermal, hydro, wind and solar facilities.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
