Alphabet Inc. (NASDAQ:GOOGL) is one of the Top AI and Technology Stocks to Buy According to Hedge Funds. On December 15, Bloomberg reported that Alphabet Inc. (NASDAQ:GOOGL)’s Google signed a solar power agreement in Malaysia. This comes as the leading tech player plans to secure clean electricity for its operations.
Google would be purchasing power from a 30-megawatt solar farm developed by a consortium, which is led by a local unit of Japan’s Shizen Energy Inc. in Malaysia’s Kedah state, added Bloomberg. Notably, this project forms part of the Southeast Asian nation’s focus on providing green power to companies and is projected to begin operations in 2027.
This agreement showcases the efforts by global tech firms to decarbonize the energy-intensive operations, like data centers.
As per BloombergNEF, Malaysia targets having 70% of its installed power capacity to be renewables by 2050. This compares to ~26% last year. Malaysia also took steps to attract investment accordingly, such as the Corporate Green Power Programme, under which the Google-Shizen was signed.
Elsewhere, on December 10, S&P Global announced a multi-year strategic partnership with Google Cloud in a bid to accelerate enterprise-wide transformation throughout agentic innovation, data distribution, and workflow automation. This expansion highlights another milestone in S&P Global’s strategic AI and cloud journey.
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Disclosure: None. This article is originally published at Insider Monkey.
