North America Alternative Energy: Google Signs 1.6GW Solar PPA

研报英文原文证据摘录

North America Alternative Energy: Google Signs 1.6GW Solar PPA

Global Research

15 July 2026ab

North America Alternative Energy Equities

North AmericaGoogle Signs 1.6GW Solar PPA

Electric Utilities

Jon Windham, CFA

Steel River Project Analyst

On 14-Jul-2026, Cypress Creek Energy announced Google signed a PPA offtake jon.windham@ubs.com

agreement for 1.6GW + 1.9GWh of solar+storage capacity from its Steel River project. +1-617-478-4711

The offtake agreement reserves the capacity from the first two phases of the larger Steel David Choe

River Energy Center project, which is expected to COD in 2029. In our view, the Google- Associate Analyst

Cypress Creek PPA further highlights ever-increasing hyperscaler demand for clean david.choe@ubs.com

energy-generating assets to meet their annual 100% clean energy matching targets. +1-212-882 5714

Will Wilson

14-Jul-2026: Hyperscaler 100% Clean Energy Mandates Update

Analyst

will-za.wilson@ubs.com

Focus on domestic content

+61-2-9324 3848

The Steel River project will use Nextpower (NXT) solar trackers, First Solar (FSLR)

modules, and battery energy storage systems (BESS) with domestically manufactured

cells from LG Energy Solution Vertech.

20-May-2026: U.S. Battery Storage Flood - Revisited

In our view, we are in the early stages of a significant ramp in U.S. domestic battery cell

manufacturing driven by auto OEMs pivoting spare EV battery manufacturing capacity

to stationary storage. In our view, data center growth, technology company clean

energy mandates, and increasing U.S. BESS capacity will enable higher long-term U.S.

solar penetration.

Increasing project sizes a tailwind for large EPCs

The 2.5GW + 2.9GWh Steel River Energy Center is further evidence of rapidly increasing

solar+storage project sizes.