21st May 2024
EP Report

Microsoft has signed the largest-ever corporate power purchase agreement (PPA) for renewable energy, signing on for more than 10.5 GW of capacity in the United States and Europe.


The projects are set to begin construction in 2026. BloombergNEF estimates that the portfolio will take over $11.5 billion to build. Microsoft and Brookfield said the deal is nearly eight times larger than any other single corporate renewable PPA.


The companies said the agreement will focus largely on solar and wind generation, but will also include “new or impactful carbon free energy generation technologies.”


“It is absolutely the largest single announcement for a corporate clean-power purchase agreement ever,” said BloombergNEF analyst Kyle Harrison. “It cements Microsoft as the second-largest corporate buyer of clean energy through PPAs, after Amazon.”


US power consumption has undergone minimal growth over the past two decades, but demand is ramping up quickly as datacenters supporting the development and operations of AI have enormous electricity requirements. Power generator Exelon Corp. projected a 900% increase in power demand in the Chicago area from planned data centers.

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