SAN FRANCISCO, United States — Microsoft and Canada's Brookfield Asset Management have struck an agreement for the development of renewable energy that could make one of the biggest corporate purchases of green energy to date, the companies said on Tuesday.
Delivering AI and cloud services is expected to see demand for electricity skyrocket as tech companies rush to build more resource-hungry data centers that will increase the dependency on over-burdened power companies. The agreement will allow Brookfield to expand its portfolio of wind and solar projects in the United States, Europe and potentially other regions over the coming years.
The framework agreement builds on Microsoft and Brookfield's existing collaboration and extends it to provide over 10 times more renewable capacity between 2026 and 2030, the companies said.