Brookfield and Microsoft have teamed up to develop over 10.5GW of renewable energy projects in various locations around the world.
Brookfield’s asset management and renewables businesses and Microsoft have signed the global renewable energy framework agreement to ”contribute to Microsoft’s goal of having 100% of its electricity consumption, 100% of the time, matched by zero carbon energy purchases by 2030”.
Building upon Brookfield and the technology firm’s existing partnership of nearly 1GW in contracted renewable capacity, the latest agreement extends their collaboration for future development, the companies said.
The agreement goes beyond its initial 10.5GW target, offering the possibility to expand into the US, Europe, Asia-Pacific, India, and Latin America.
The pair said the partnership will not only focus on wind and solar, but also “new or impactful carbon-free energy generation technologies”.
The agreement provides a pathway for Brookfield to deliver over 10.5GW of new renewable energy capacity between 2026 and 2030 in the US and Europe. Additionally, it “provides an incentive for Brookfield to build a large portfolio of new renewable energy projects over the coming years”.
For Microsoft, the venture provides it with access to a pipeline of new renewable energy capacity to support the growing demand for cloud services at home and work.
Connor Teskey, CEO of Brookfield Renewable and president of Brookfield Asset Management, said: “As the global trend of digitalisation and the adoption of AI continues to drive growth in demand for electricity, we are thrilled to collaborate with Microsoft to support their customer demand with the build-out of over 10.5GW of renewable energy capacity.
”This first of its kind agreement, which is almost eight times larger than the largest single corporate PPA ever signed, is a testament to our ability to reliably deliver clean power solutions at scale to our corporate partners and accelerate the energy transition.”
Adrian Anderson, general manager of renewables, carbon-free energy, and carbon dioxide removal at Microsoft, said: “Microsoft wants to use our influence and purchasing power to create lasting positive impact for all electricity consumers.
”This collaboration with Brookfield drives the innovative development of more diverse energy grids globally and contributes to delivering our goal of achieving 100% of our electricity consumption, 100% of the time, matched by zero carbon energy purchases by 2030.”
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