Brookfield Asset Management gains on $3 billion hydropower agreement with Google

U.S.-listed shares of Brookfield Asset Management BAM.TO, BAM.N rise ~1% to $57.58 premarket

BAM along with Brookfield Renewable BEP.N signs hydro framework agreement (HFA) with Google GOOGL.O to deliver 3,000 megawatts (MW) of carbon-free hydroelectric capacity across the U.S.

BAM says contracts under the HFA are for its Holtwood and Safe Harbor hydroelectric facilities in Pennsylvania, representing more than $3 billion of power and 670 MW of capacity

BAM and GOOGL will initially focus in the mid-Atlantic (PJM) and mid-continent (MISO) electricity markets, with the flexibility to expand into other U.S. regions

BEP shares rise 4.6% to $26.77 premarket

As of last close, shares were up 5.22% YTD