Microsoft (NASDAQ: MSFT) has signed a first-of-its-kind global framework agreement to accelerate renewable energy capacity expansion. The five-year deal will help support the development of over 10.5 gigawatts (GW) of new renewable energy capacity. That's a staggering eight times larger than the biggest corporate power-purchase agreement (PPA) ever signed.

The tech titan signed this agreement with Brookfield Asset Management and its affiliate Brookfield Renewable (NYSE: BEPC)(NYSE: BEP). It significantly expands their long-standing relationship with Microsoft. The deal, reportedly supporting more than $10 billion of future developments, will meaningfully enhance and extend Brookfield Renewable's long-term growth outlook.

The global renewable energy framework agreement provides a visible pathway for Brookfield to build and deliver over 10.5 GW of new renewable energy capacity in the U.S. and Europe between 2026 and 2030. That will help support Microsoft's goal of reaching 100% zero-carbon energy purchases by 2030.

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Source Fool.com