May 1, 2024 - Technology

Microsoft inks huge energy deal amid data center demand growth

Illustration of solar panels in the shape of the Microsoft logo.

Illustration: Gabriella Turrisi/Axios

Investment giant Brookfield Asset Management will develop 10.5 gigawatts of renewable energy between 2026 and 2030 to serve Microsoft's power needs, the companies announced today.

Why it matters: The plan for projects in the U.S. and Europe is mammoth by corporate procurement standards.

Stunning stat: The deal is roughly eight times bigger than the largest single corporate power purchase agreement in history, they said.

The big picture: It involves wind, solar, and "new or impactful carbon free energy generation technologies."

  • Microsoft hopes to match 100% of its power use on a 24/7 basis with "clean" sources by 2030.
  • Terms of the deal were not disclosed.

What we're watching: The "global framework agreement" also envisions expanding its scope and adding other continents.

Go deeper: The FT, which first reported the news, has more details.

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