Microsoft just agreed to support the development of 10.5 gigawatts of new renewable energy capacity around the world, a massive amount of electricity to fuel its AI ambitions and climate goals. For comparison, 10.5 GW of renewable energy amounts to nearly half the amount of solar and wind capacity California had in 2022. This is quite literally a very big deal — effectively the largest corporate agreement to purchase renewable energy to date, according to BloombergNEF.
5 to $17 billion to build out that much new capacity, which is supposed to come online between 2026 and 2030. Brookfield says the deal allows it to invest in new renewable energy projects across the US, Europe, Latin America, Asia, and the Pacific. Microsoft would purchase power generated in each new location. Microsoft has previously committed to matching 100 percent of its electricity use with carbon-free energy purchases by 2030.