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UPDATE 3-Microsoft, Brookfield to partner on renewable energy projects

Reuters
Aktualisiert ·Lesedauer: 1 Min.

(Adds Microsoft spokesperson's comment in paragraph 2)

May 1 (Reuters) - Canada's Brookfield Asset Management and technology giant Microsoft will develop new wind and solar farms in an attempt to bring over 10.5 gigawatts of new renewable energy capacity, the companies said on Wednesday.

The agreement provides a pathway for Brookfield to deliver the new renewable energy capacity between 2026 and 2030 in the U.S. and Europe, a Microsoft spokesperson told Reuters in an emailed statement.

The Financial Times first reported on the partnership, and said the 10.5 gigawatts of new capacity would cost more than $10 billion, citing recent industry trends.

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Both Brookfield and Microsoft did not disclose any financial terms of the agreement.

The deal underscores the race to meet clean energy commitments while satisfying the voracious energy demand of cloud computing and artificial intelligence.

(Reporting by Mrinmay Dey, Surbhi Misra and Devika Nair in Bengaluru; Editing by Sherry Jacob-Phillips and Rashmi Aich)