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Brookfield Asset Management and Brookfield Renewable, in partnership with Microsoft, have announced a global renewable energy framework agreement aimed at supporting Microsoft’s ambitious goal of sourcing 100% of its electricity consumption from zero carbon energy purchases by 2030.
The Brookfield-Microsoft agreement reflects their joint commitment to global decarbonization efforts and carbon emission reduction. With nearly one gigawatt of renewable capacity already under contract, this agreement strengthens their collaboration, paving the way for future endeavors. The agreement outlines Brookfield’s commitment to supplying over 10.5 gigawatts of new renewable energy capacity in the U.S. and Europe by 2030. It also allows for expanding its scope to include more renewable energy capacity in these regions and potentially extending to Asia-Pacific, India, and Latin America.
The agreement grants Microsoft access to a pipeline of fresh renewable energy capacity, catering to the increasing demand for cloud services both domestically and professionally. Brookfield’s significant capacity expansion will aid in greening the grid and expediting the worldwide adoption of renewable energy in the cloud sector. Not limited to wind and solar, the agreement will explore impactful carbon-free energy generation technologies.
“As the global trend of digitalization 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 10.5 gigawatts 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,” said Connor Teskey, CEO of Brookfield Renewable and President of Brookfield Asset Management.
“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,” added Adrian Anderson, General Manager of Renewables, Carbon Free Energy, and Carbon Dioxide Removal (CDR). |
