Microsoft is backing an estimated £8bn ($10bn) in renewable electricity projects after signing a major deal.
The tech giant will nearly double its renewable energy capacity through a five-year deal with Canada’s Brookfield Asset Management, developing new wind and solar farms in an attempt to bring over 10.5 gigawatts of new renewable energy capacity.
The new wind farms and solar farms will be built between 2026 and 2030, starting in the US and Europe.
The deal between the two firms highlights the race to meet clean energy commitments while also meeting the energy demand of AI and cloud computing.
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The deal is said to be the highest-ever power purchase agreement (PPA) on record.
Under the agreement, Microsoft will gain access to a pipeline of new renewable energy capacity to support the growing demand for cloud services at home and at work, contributing to the tech giant’s clean energy and sustainability goals.
According to the companies, the scale of the tie-up will help the decarbonisation of the grid and speed up the the global shift to renewable energy solutions within the cloud industry.
Last year, Microsoft added new scope 3 emissions reporting capabilities to its Cloud for Sustainability platform, which helps companies record ESG data across their value chains.
