Pivot Energy and Microsoft collaborate to develop 500 MWac of solar projects
Pivot Energy, a renewable energy provider, announced that it has signed a 5-year framework agreement with Microsoft to develop 500 megawatts (MWac) of community-scale solar energy projects across the United States.
The proposed plan involving the projects is slated to take place between 2025 and 2029.
The agreement marks Pivot Energy’s largest Renewable Energy Credit (REC) agreement. In addition, it also marks Microsoft’s first major distributed generation portfolio.
The deal with Microsoft will enable Pivot Energy to develop nearly 150 US solar projects in around 100 communities and spread across 20 states.
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In addition, as part of the agreement, Microsoft will purchase the project RECs for a 20-year term, with the first projects coming online before the end of 2024.
“An economy fueled by clean, distributed energy can do more than provide power at low cost; it drives growth and success in communities across the nation. This collaboration between Pivot Energy and Microsoft exemplifies the power and impact that distributed generation can have,” said Tom Hunt, CEO of Pivot Energy.
He added, “Pivot Energy is proud of our industry-leading role in developing solar projects that benefit local communities. We are honored to collaborate with Microsoft to provide purpose-driven solar energy”.
Also read: 3Degrees and Microsoft strike carbon removal deal with Blue Creek Project
The 500 MWac will generate more than 1 billion kilowatt hours of electricity per year over a 20-year period.
This electricity is sufficient to power nearly 90,000 homes a year, which is equivalent to removing 165,000 gas-powered passenger vehicles off the road each year.
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