Energy
Wednesday, May 1st, 2024 2:37 pm EDT
Key Points
- Microsoft and Brookfield Asset Management have inked a deal exceeding $10 billion to develop renewable energy capacity, addressing the escalating demand for artificial intelligence and data centers.
- Brookfield will provide Microsoft with 10.5 gigawatts of renewable energy across the U.S. and Europe from 2026 to 2030, marking the largest electricity purchase agreement between two corporate partners.
- The agreement, focusing on wind, solar, and innovative carbon-free technologies, could expand to include additional energy capacity in regions like Asia, Latin America, and India. This collaboration responds to the surging electricity demand in the U.S., driven by the rise of AI, semiconductor, and electric vehicle manufacturing. Microsoft aims to match 100% of its electricity consumption with zero-carbon energy purchases by 2030, reaffirming its commitment to sustainability.
Microsoft and Brookfield Asset Management have struck a groundbreaking deal exceeding $10 billion, aimed at bolstering renewable energy capacity to fuel the burgeoning demand for artificial intelligence and data centers. This collaboration will see Brookfield providing Microsoft with 10.5 gigawatts of renewable energy across the U.S. and Europe between 2026 and 2030, marking the largest single electricity purchase agreement between two corporate entities. The scale of this initiative dwarfs the electricity consumption of data centers in Northern Virginia, the world’s largest data center market. The substantial investment accompanying this deal is expected to surpass $10 billion, demonstrating a robust commitment to sustainable energy. Moreover, the agreement’s scope is flexible, potentially extending to additional energy capacity in various regions worldwide, including Asia, Latin America, and India, with a focus on wind, solar, and emerging carbon-free technologies. This collaboration comes amid a significant surge in electricity demand in the U.S., driven by the rise of AI, semiconductor and battery manufacturing expansion, and the shift towards electric vehicles. With electricity consumption projected to spike by 20% by the end of the decade, Microsoft aims to lead the charge by pledging to match 100% of its electricity consumption with zero-carbon energy purchases by 2030, further underlining its commitment to sustainability and environmental stewardship.
For the full original article on CNBC, please click here: https://www.cnbc.com/2024/05/01/microsoft-brookfield-to-develop-more-than-10point5-gigawatts-of-renewable-energy.html
