Microsoft and Brookfield to develop 10.5 GW of renewables in “largest ever” corporate PPA
According to a recent article by Renewable Energy World, Canada’s Brookfield Asset Management and Microsoft have entered into a global renewable energy framework agreement to develop over 10.5 gigawatts (GW) of new renewable energy capacity. This agreement is nearly eight times larger than the biggest single corporate power purchase agreement (PPA) ever signed.
The aim is to support Microsoft’s goal of achieving 100% zero-carbon energy consumption by 2030, considering the growing demand for cloud services. The companies have already contracted close to one GW of renewable capacity outside of this agreement. In addition to wind and solar, the agreement will explore “new or impactful carbon-free energy generation technologies.” The estimated cost of this new capacity is around $10 billion.
The agreement allows Brookfield to develop more than 10.5 GW of new renewable energy capacity in the U.S. and Europe between 2026 and 2030. It also has the potential to expand into other regions like Asia-Pacific, India, and Latin America.
The CEO of Brookfield Renewable and President of Brookfield Asset Management, Connor Teskey, expressed excitement about delivering clean power solutions at scale and accelerating the energy transition through this groundbreaking agreement.
Read the full article here.
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