Google pursues nuclear power expansion in Georgia to support AI data center growth.

Alphabet's Google recently struck a deal with Georgia Power, a subsidiary of The Southern Company, to boost capacity at two nuclear plants. Google will finance "uprates"—upgrades that increase a reactor's power output—at Georgia Power's Vogtle and Hatch nuclear plants to add 96 MW of new capacity to the electric grid. These upgrades will support the construction of new data centers, while Google's funding shields Georgia Power's residential and industrial customers from those expenses. Two industrial stocks positioned to benefit from this deal are GE Vernova and Brookfield Renewable Corporation.

**GE Vernova**

GE Vernova, the former energy division of General Electric spun off as a standalone company in 2024, operates two primary business segments. Its Power business, which accounted for 55% of orders last year, produces gas turbines for combined-cycle plants and steam turbines for coal, gas, and nuclear plants, as well as services for nuclear power plants. The Electrification business, representing another 33% of orders, upgrades electrical grids. Both segments have benefited from rapid data center construction.

GE Vernova has significant presence at Georgia Power's Hatch plant through its nuclear business and a joint venture with Hitachi. Both Unit 1 and Unit 2 at the plant use GE's Mark I Boiling Water Reactors, and the plant continues to rely on GE Vernova for reactor services, engineering support, and nuclear fuel advancements. Major upgrades at Hatch will likely leverage GE Vernova's equipment and services, strengthening its Power segment orders. Increased electricity transmission from the upgraded plant could also benefit its Electrification business.

Growth in these two segments should offset slower performance in GE Vernova's Wind business, which has faced operational, macroeconomic, and demand challenges. The company's backlog grew 37% year over year to $176.3 billion in its latest quarter and should expand further as cloud and AI markets continue expanding.

**Brookfield Renewable Corporation**

Brookfield Renewable builds hydroelectric dams, wind farms, solar power plants, and other green energy projects with a total operational capacity of 47.3 GW. While Brookfield might not appear directly exposed to Google's Georgia Power deal, the company has significant indirect exposure through its ownership stake in a major nuclear supplier.

Three years ago, a consortium led by Brookfield Renewable, along with its institutional affiliates, and the uranium miner Cameco acquired Westinghouse Electric Company, a leading global nuclear technology firm. Brookfield and its affiliates hold a 51% stake in Westinghouse, while Cameco controls the remaining 49%.

Westinghouse designed and built the pressurized water reactors used across all four units at Georgia Power's Vogtle plant and continues providing the utility with specialized engineering services, regulatory compliance support, and proprietary nuclear fuel assemblies. Major upgrades at Vogtle should benefit Westinghouse and boost Brookfield's earnings.

**A Measured Outlook**

While GE Vernova and Westinghouse could benefit from Google's deal with Georgia Power, investors should remain cautious. Georgia's state regulators must approve the deal amid growing protests against AI and data centers, and uprating both plants will take at least several years.

Rather than assuming Google's deal will immediately drive demand to GE Vernova or Brookfield Renewable, investors should view it as another positive indicator for the AI power market. Meta struck a similar nuclear power deal with Constellation Energy last year, and more deals are likely as AI's rapid expansion creates demand for nuclear power beyond available supply.