On May 1, 2024, Brookfield Asset Management, together with Brookfield Renewable and Microsoft, signed a landmark global renewable energy framework agreement aimed at matching 100% of Microsoft's electricity consumption with zero-carbon energy purchases by 2030. The deal, rooted in the companies' shared commitment to decarbonize global energy supplies, outlines the delivery of over 10.5 gigawatts of new renewable energy capacity between 2026 and 2030 in the U.S. and Europe, with potential expansions to Asia-Pacific, India, and Latin America.

The agreement builds on their existing collaboration, which has already contracted nearly one gigawatt of renewable capacity. This initiative supports the increasing demand for cloud services and contributes to the decarbonization of the grid. It encompasses not only wind and solar power but also new or impactful carbon-free energy technologies.

Connor Teskey, CEO of Brookfield Renewable and President of Brookfield Asset Management, highlighted the agreement as a testament to Brookfield’s ability to deliver large-scale clean power solutions. Adrian Anderson, General Manager of Renewables at Microsoft, emphasized the collaboration's role in advancing diverse global energy grids and achieving Microsoft’s 2030 zero-carbon goal.

Legal advisors for this transaction include King & Spalding LLP for Brookfield, while Orrick, Herrington & Sutcliffe LLP represented Microsoft.