Data location at Get and Transform / Power Query

Dear all,

the feature Get & Transform (Power Query) offers the possibility to import data via connection to a folder.

If both the excel file where I want to import the data as well as the folder that contains the data (in the form of excel files) are stored on the local drive or local network, will the data stay on the local drive using Get & Transform or will the data be sent to any external server while importing the data to my excel file? 

Thank you for your information.

Best