Brookfield Asset Management and Microsoft ink largest-ever clean energy agreement
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Brookfield Asset Management’s energy arm and Microsoft have inked a clean-energy purchase agreement to develop wind and solar farms.
The deal, set to commence in 2026, will see Brookfield Renewable Partners provide more than 10.5 gigawatts of renewable energy capacity across the US and Europe.
The agreement is the largest corporate clean-energy purchase agreement ever announced.
A report mentions that the proposed capacity is equivalent to 10 nuclear power plants. It also shows the increasing demand for electricity from data centres and artificial intelligence.
However, the cost may vary depending on the energy type and location.
Also read: Microsoft signs agreement with RWE for supply of clean energy
US power consumption has seen minimal growth over the past two decades. However, it is forecasted to expand rapidly in response to the surging demand from new data centres required for AI, new factories, and electric vehicles.
Recently, Exelon Corp. predicted a staggering 900% increase in power demand from planned data centres in the Chicago area.
Predictions like these present challenges for organisations such as Microsoft, which aim to secure additional power supplies while reducing carbon emissions.
Microsoft is committed to matching all its electricity consumption with zero-carbon energy purchases by 2030.
The Microsoft-Brookfield agreement, nearly eight times larger than any other single corporate power-purchase agreement, highlights their commitment.
As reported by The Financial Times, the deal may later expand to include new renewable capacity in Asia and Latin America, with a focus on wind and solar along with other upcoming technologies.
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