Google Strikes 150MW Geothermal Deal, Soros Retains $200M Stake
Google struck a geothermal energy deal with Ormat to supply about 150 megawatts to its data centers, enhancing sustainability and reducing power costs. Soros Fund Management trimmed its Alphabet stake to 639,000 shares worth roughly $200 million but kept it as a 2.3% core holding, signaling ongoing investor confidence.
1. Ormat Geothermal Partnership
Google has contracted Ormat Technologies to deliver approximately 150 megawatts of geothermal energy to its data center operations, marking one of the largest renewable energy agreements in its infrastructure rollout.
2. Sustainability and Cost Advantages
Utilizing geothermal power is expected to lower Google's electricity costs and reduce carbon emissions by substituting conventional grid power with a stable, baseload renewable source.
3. Soros Fund Management Stake
Soros Fund Management reduced its Alphabet shares to 639,000 but maintained the position as 2.3% of its portfolio, reflecting sustained confidence in Google's long-term growth prospects.