Alphabet's Google Awards PPAs to Clearway Energy to Receive Carbon-Free Energy For Its Data Centers

Alphabet Inc. (NASDAQ:GOOGL) is one of the 15 Best S&P 500 Stocks to Look For in 2026.

On January 15, Alphabet Inc.’s (NASDAQ:GOOGL) Google recently awarded three new long-term power purchase agreements (PPAs) to Clearway Energy Group, Inc. (NYSE:CWEN), as reported by Clearway Energy. This development is part of Clearway’s 2025 plan, which includes three projects in states including Missouri, Texas, and West Virginia. These projects total approximately 1.17 GW of carbon-free energy projects.

As per the latest agreement with Google, Clearway will provide carbon-free energy to domestic grids to assist Google’s data centers in SPP, ERCOT, and PJM. This agreement has a lifespan of 20 years, which will help in driving economic growth across local communities. These projects represent a combined total investment of $2.4 billion in reliable energy infrastructure. The construction on these projects is expected to begin in 2026, with the initial sites estimated to go live in 2027 and 2028.

In other news, on January 13, TheFly reported that John Blackledge from TD Cowen raised the price target on Alphabet Inc. (NASDAQ:GOOGL) from $350 to $355. Blackledge pointed out that Google Search offers the highest return on investment and best measurement. The analyst believes Google will retain its leadership in worldwide digital advertising, according to its latest advertising buyer survey.

Alphabet Inc. (NASDAQ:GOOGL) provides a range of products and platforms worldwide, including its eponymous search engine. The company operates through Google Services, Google Cloud, and Other Bets segments.

While we acknowledge the potential of GOOGL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 10 Best New Penny Stocks to Invest In and 13 Best Gold Mining Companies to Invest In Now.

Disclosure: None. This article is originally published at Insider Monkey.