From Nasdaq: 2024-05-02 08:15:00

Microsoft (NASDAQ: MSFT) has signed a groundbreaking global framework agreement with Brookfield Asset Management to develop over 10.5 GW of new renewable energy capacity, eight times larger than the biggest corporate power-purchase agreement. The deal supports Microsoft’s goal of reaching 100% zero-carbon energy purchases by 2030.

The agreement with Brookfield Renewable (NYSE: BEPC, BEP) significantly enhances Microsoft’s renewable energy portfolio. It allows Microsoft access to a pipeline of new renewable energy capacity to support the demand for its cloud services, essential for powering data centers necessary for AI applications.

Brookfield Renewable is the perfect ally for Microsoft, boasting a global operating portfolio of 33 GW of capacity across various technologies and geographies. The deal could accelerate Brookfield’s projects and FFO growth, potentially leading to higher dividends and significant growth opportunities in the future.

The partnership between Microsoft and Brookfield not only powers Microsoft’s cloud business with clean energy but also accelerates the energy transition to cleaner power. This deal could drive strong total returns for Brookfield Renewable investors in the long term, making it a top renewable energy stock to consider.



Read more at Nasdaq: Microsoft Is Making a Massive $10 Billion Renewable Energy Bet (That Will Pay Big Dividends for This Top Energy Stock)