The Globe and Mail reports in its Thursday edition that Brookfield Asset Management and Microsoft have reached an agreement to develop renewable power capacity, with the global tech giant turning to the Toronto-based asset manager to help run its burgeoning artificial intelligence and cloud computing services on cleaner energy. The Globe's James Bradshaw writes that under a framework agreement announced Wednesday, Microsoft will back Brookfield projects that bring 10.5 gigawatts of renewable generating capacity on-line between 2026 and 2030 in the United States and Europe -- equivalent to the power needed to run about 1.8 million homes. It will give Microsoft access to a new pipeline of renewable energy to help run its data centres. At current market rates, the projects encompassed by the pact could cost billions of dollars to develop. For Brookfield, the agreement reduces the risks inherent in a huge pipeline of renewable energy projects, which are underpinned by a combined $25-billion (U.S.) the asset manager has raised so far through two transition funds launched by its renewables unit. As Brookfield builds out wind and solar energy projects, it can do so knowing it has a reliable customer in Microsoft.
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