AES Corporation has entered into a 20‑year power purchase agreement with Google to supply electricity for a new data center in Wilbarger County, Texas. The contract includes co‑located power generation, with AES owning and operating the generation assets, allowing Google to power its facility directly from AES‑owned resources and reducing reliance on the local grid.
The agreement adds a substantial, long‑term revenue stream for AES and underscores the company’s growing role as a preferred energy partner for hyperscale data‑center operators. AES has already signed agreements for nearly 12 GW of energy with data‑center customers, 9 GW of which are direct PPAs with hyperscalers, positioning the company to capture a larger share of the rapidly expanding data‑center energy market.
AES’s recent financial performance highlights the strategic importance of the deal. In Q3 2025, the company reported Adjusted EBITDA of $830 million, up from $698 million year‑over‑year, and Adjusted EPS of $0.75 versus $0.71. In Q4 2024, Adjusted EPS was $0.54, down from $0.73 in the prior year quarter. The Renewables SBU Adjusted EBITDA grew 46% year‑to‑date in Q3 2025, reflecting strong growth in clean‑energy projects that support data‑center clients.
"Our expanded partnership with Google demonstrates how AES can accelerate data center development by delivering powered land and energy at scale," said Andrés Gluski, AES President and CEO. "AES is recognized as a world leader in providing energy solutions to technology companies. To‑date, AES has signed agreements for nearly 12 GW of energy with data‑center customers, 9 GW of these are PPAs directly with hyperscalers." "Google's data centers are long‑term investments in the communities we call home, and our new site in Wilbarger County will be no exception," said Amanda Peterson Corio, Google Global Head of Data Center Energy. "In partnership with AES, we are bringing new clean generation online directly alongside the data center to minimize local grid impact and protect energy affordability. We are also pairing this new power with advanced air‑cooling to eliminate operational water use, ensuring Texas remains both sustainable and resource abundant."
Investors reacted positively to the announcement, reflecting confidence in the long‑term revenue certainty and the strategic alignment with Google’s renewable‑energy goals. The partnership demonstrates AES’s ability to deliver powered land and energy solutions at scale, reinforcing its position in the growing data‑center energy market and supporting Google’s carbon‑free energy commitments.
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