Brookfield Renewable scores 10.5-GW offtake deal with Microsoft

US technology giant Microsoft Corp (NASDAQ:MSFT) has signed a deal that will enable it to procure over 10.5 GW of renewable power from future projects implemented by Brookfield Renewable Partners LP (NYSE:BEP).

The five-year global renewable energy framework agreement is almost eight times bigger than the largest single corporate power purchase agreement (PPA) ever signed, according to a statement released today.

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The agreement envisages the delivery of new clean electricity capacity between 2026 and 2030 in the US and Europe. It leaves room for potential expansion, including in terms of additional volumes and the inclusion of other geographies such as Asia-Pacific, India, and Latin America. Aside from wind and solar, the deal also covers "new or impactful carbon-free energy generation technologies."

Microsoft and Brookfield have an established partnership that has resulted in the contracting of nearly 1 GW of renewable capacity outside of today’s agreement. The newly forged pact will serve as an incentive for Brookfield to build a large portfolio of new renewable energy projects over the coming years, the press statement said further.

Today's PPA will contribute to Microsoft’s sustainability goals of having its entire electricity consumption matched by zero-carbon energy purchases by 2030.