Commercial, Solar, Sourcing Renewables, Wind - May 3, 2024
Microsoft to Add 10.5 GW RE in Largest-Ever Corporate PPA
Microsoft announced the signing of a global renewable energy framework agreement to contribute to the software company’s goal of having 100% of its electricity consumption 100% of the time matched by zero carbon energy purchases by 2030.
The agreement between Brookfield Asset Management, Brookfield Renewable and Microsoft will help the tech company decarbonize global energy supplies and reduce carbon emissions.
Brookfield announced the five-year agreement is a first-of-its-kind global framework agreement that is almost eight times larger than the largest single corporate PPA ever signed.
The agreement provides a pathway for Brookfield to deliver over 10.5 gigawatts of new renewable energy capacity between 2026 and 2030 in the U.S. and Europe. The agreement includes the potential to increase its scope to deliver additional renewable energy capacity within the U.S. and Europe, and beyond to Asia-Pacific, India and Latin America, and provides an incentive for Brookfield to build a large portfolio of new renewable energy projects in the future.
The agreement provides Microsoft with access to a pipeline of new renewable energy capacity to support the growing demand for cloud services.
The agreement will not only focus on wind and solar, but also on new or impactful carbon-free energy generation technologies.
“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,” said Adrian Anderson, General Manager of Renewables, Carbon Free Energy, and Carbon Dioxide Removal (CDR) at Microsoft, in a statement.
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