Brookfield Asset Management, together with Brookfield Renewable and Microsoft has inked a global renewable energy framework agreement to deliver over 10.5 GW of new renewable energy capacity between 2026 and 2030 in the U.S. and Europe. This five-year agreement also provides a pathway for Brookfield to expand its portfolio and set up additional renewable energy capacity in markets like the Asia Pacific, India and Latin America.
For Microsoft, this agreement offers access to a large pipeline of new clean energy capacity to power the growing demand for cloud services at home and at work. This agreement will help the company to achieve its goal of having entire electricity consumption, all the time, matched by zero carbon energy purchases by 2030.
Additionally, the agreement emphasises a broad approach, encompassing not just wind and solar energy but also exploring other innovative carbon-free energy generation technologies. The companies already have contracted almost 1 GW of renewable capacity to date that is outside of the agreement.
REGlobal’s Views: Many large tech corporations that have significant energy requirements, are now accelerating their energy transition plans and rapidly switching to renewable energy sources to reach their decarbonisation targets, through affordable and secure clean energy sources. Microsoft is already a large corporate purchaser of renewable power and this deal will help the company to move closer to its net zero goals.