Hyperscale · Cloud & AI

Google (Alphabet).

Google's infrastructure strategy leans on advanced nuclear (Kairos), geothermal (Fervo), and long-duration storage. Its footprint in the Midwest, Southeast, and CAISO is expanding, with acute grid constraints in Iowa and Tennessee.

Mountain View, CA

Ticker

NASDAQ: GOOGL

Employees

183,000

Market Cap

$2.1T

Institutional Scoring

Grid, power, opportunity

Grid Risk — Moderate

63/ 100

Composite risk index

· BPA hydro constraint
· MISO capacity accreditation
· Duke coal retirement pace

Power Availability — Moderate

60/ 100

Firm delivery readiness

SMR + geothermal + LDS pipeline creates firm-power optionality beyond 2028.

Opportunity — High

82/ 100

Institutional thesis

Anchor customer for next-generation firm technologies — sets long-dated PPA benchmarks.

Analyst AI Summary

Google is the deepest pocket for advanced-technology firm power (SMR, geothermal, LDS). Iowa (Council Bluffs) and Tennessee (Kairos) are the two watch nodes. Constraint isn't capital — it's siting and interconnect. Watch: TVA SMR ROD and MidAmerican IRP filing.

Executive Hierarchy

Sundar Pichai

Since 2015

CEO, Alphabet & Google

AI capex, cloud

Anat Ashkenazi

Since 2024

CFO

Capex discipline

Amanda Peterson-Corio

Since 2020

Head of Global Data Center Energy

PPA + firm strategy

Michael Terrell

Since 2019

Head of Advanced Energy

Nuclear, geothermal, LDS

Infrastructure Projects

Project	Status	Capex	MW	State	Online
TVA Kairos SMR site (Clinch River)	Announced	TBD (PPA)	500	TN	2032+
Council Bluffs IA Phase 4	Under Construction	$2.9B	500	IA	2027
Storey County NV Expansion	Under Construction	$2.1B	400	NV	2027
Dothan AL Campus	Permitting	$3.6B	600	AL	2028

Facilities

Facility	Type	Location	ISO	Utility	Load (MW)	Status
Council Bluffs Campus	Data Center	Council Bluffs, IA	MISO	MidAmerican Energy	800	Operational
Storey County NV	Data Center	Storey County, NV	WECC	NV Energy	800	Operational
The Dalles OR	Data Center	The Dalles, OR	WECC	Northern Wasco PUD	300	Operational
Lenoir NC	Data Center	Lenoir, NC	SERC	Duke Energy Carolinas	300	Operational
Mountain View HQ	Headquarters	Mountain View, CA	CAISO	PG&E	42	Operational

Utilities Serving Facilities

MidAmerican Energy
Berkshire Hathaway Energy · serves Council Bluffs
IUB special contract
NV Energy
Berkshire Hathaway Energy · serves Storey County
Section 704B unbundled
Northern Wasco PUD
PUD / BPA wholesale · serves The Dalles
Firm — BPA constrained
Duke Energy Carolinas
Duke Energy · serves Lenoir
NC UC rider

Substations Nearby

S 34th St 345kV
MidAmerican · serves Council Bluffs
345 kV
1 mi
TRIC 230kV
NV Energy · serves Storey County
230 kV
0.6 mi
Big Eddy 500kV
BPA · serves The Dalles
500 kV
2.1 mi
Marion 500kV
Duke · serves Lenoir
500 kV
3.8 mi

Transmission Proximity

MISO 345kV IA loop
345 kV · 30 mi
MidAmerican / ITC · headroom 10%
One Nevada Transmission Line 500kV
500 kV · 235 mi
NV Energy · headroom 22%
Duke 500kV NC/SC
500 kV · 42 mi
Duke · headroom 8%

Capital Spending

2024A
AI + DC + fiber
$52B
2025A
AI capacity
$52B
2026E
AI + advanced nuclear pre-dev
$56B

Manufacturing Footprint

Mountain View, CA
TPU design
Headcount 2,700 · Capacity n/a

ESG Metrics

24/7 CFE regions
13 ▲
Renewable match
100% —
Water replenishment
40% ▲
Scope 3 emissions
11.5 Mt ▲

Energy Consumption Mix

Wind PPA41%

Solar PPA34%

Geothermal6%

Fervo Nevada

Advanced nuclear (contracted)3%

Kairos

Utility supply16%

Political Exposure

Iowa Utilities Board
Moderate
Data center rate design case
Tennessee Valley Authority
Low
Federal jurisdiction, supportive
North Carolina UC
Moderate
Rate case timing

Natural Disaster Exposure

Wildfire
Elevated
NV + OR + CA HQ
Tornado
Elevated
IA + AL
Hurricane
Moderate
AL + SC

Forward Timeline

2026-Q4
TVA Kairos MoU deliverables
Generation
2027-Q2
Council Bluffs phase 4 first power
Data Center
2027-Q4
Storey County expansion COD
Data Center
2028-Q3
Dothan AL phase 1 first power
Data Center

Relationship Mapping

TVA
Utility
Kairos SMR site host
MidAmerican Energy
Utility
Council Bluffs supplier
Duke Energy
Utility
Lenoir supplier
Kairos Power
Supplier
SMR technology partner
Fervo Energy
Supplier
Geothermal PPA anchor
Amazon, Microsoft, Meta
Competitor
Same substations

Recent SEC Filings

10-Q
2026-04-29
Q1 — capex $12B, FY26 guide reaffirmed
8-K
2026-06-25
TVA Kairos MoU

Procurement Contacts

Global Infrastructure Procurement
Data center + fiber
Long-lead + advanced nuclear
Advanced Energy Team
SMR + geothermal + LDS
Emerging tech PPAs

Recent Press Releases

Google and TVA Advance Kairos SMR Development
2026-06-25
Capex
Google Expands Council Bluffs Campus
2026-06-12
Capex

Connected Coverage

Other counterparties

Regulated Utility · PJM/Dominion Zone

Dominion Energy

Hyperscale · Data Center Owner-Operator

Amazon (AWS Infrastructure)