Microsoft Signs Renewable Energy Supply Deal With Brookfield to Meet Sustainability Goals, Cloud Demand

By Adriano Marchese

Brookfield Asset Management and Brookfield Renewable will supply Microsoft with renewable energy to help reach its sustainability goals and support the growing demand for cloud services.

In a joint statement on Wednesday, the three companies said they signed a five-year global renewable energy framework agreement to develop over 10.5 gigawatts of new renewable energy capacity.

While wind and solar power generation will be the main focus, the companies said there is also focus on new carbon-free energy generation technologies that could contribute to the new capacity as well.

The agreement builds on an existing collaboration where Brookfield supplies almost one gigawatt of renewable capacity to the tech giant, and will see Brookfield deliver the renewable energy capacity between 2026 and 2030 in both the U.S. and across Europe.

Brookfield Asset Management is a global alternative asset manager whose portfolio of investments include renewable power and transition and infrastructure. Brookfield Renewable Partners is the flagship listed renewable power and transition company of Brookfield Asset Management, operating publicly-traded platforms for renewable power and sustainable solutions.

There is also room in the agreement to deliver additional capacity within the U.S. and Europe, as well as in Asia-Pacific, India and Latin America.

The move by Microsoft is part of its goal of achieving all of its electricity consumption matched by zero carbon energy purchases by 2030.

Write to Adriano Marchese at [e-mail]

(END) Dow Jones Newswires

05-01-24 1035ET