Google Just Went Nuclear in Georgia. These 2 Industrial Stocks Get Paid to Build It.
GE Vernova and Brookfield Renewable will benefit from Google's latest nuclear deal.
Overview
Alphabet's (NASDAQ: GOOG) (NASDAQ: GOOGL) Google recently struck a deal with The Southern Company's (NYSE: SO) Georgia Power to boost its capacity at two nuclear plants. Google will finance "uprates" (upgrades for a reactor's power output) at Georgia Power's Vogtle and Hatch nuclear plants to add 96 MW of new capacity to its electric grid.
Those upgrades will support the construction of new data centers, while Google's funding will shield Georgia Power's residential and industrial customers from those expenses. That's a win-win for both companies, and two other industrial stocks that could benefit from the deal are GE Vernova (NYSE: GEV) and Brookfield Renewable Corporation (NYSE: BEPC).
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Originally published at www.fool.com.