Microsoft
Total Deals
Total Capacity
Disclosed Investment
Disclosed transactions only
Deal Period
Latest: Dec 2025
Strategy Breakdown
Business Context
- Microsoft tracking toward $120 billion or more in fiscal 2026 capex, having spent $37.5 billion in Q1 FY2026 alone.
- The company disclosed an $80 billion backlog of Azure orders that cannot be fulfilled due to power constraints.
- Microsoft expects to spend $80 billion in fiscal 2025 on AI-enabled data centers, with over half in the U.S.
Commitments
- Carbon negative by 2030, and by 2050 will remove all carbon emitted since founding in 1975.
- RE100 member since 2015; matched 100% of annual global electricity consumption with renewable energy by 2025.
- 100/100/0 commitment: 100% of electricity consumption, 100% of the time, matched by zero carbon energy purchases by 2030.
Energy Strategy
A portfolio anchored by the largest corporate renewable framework ever signed, now pivoting toward nuclear baseload and 24/7 carbon-free energy to address AI-driven power constraints.
- 2024 Brookfield 10.5 GW global renewable framework, the largest single corporate PPA ever signed, spanning 2026–2030 delivery across U.S. and Europe.
- 2024 Constellation 835 MW Crane Clean Energy Center (Three Mile Island restart) 20-year PPA, the first corporate PPA for a restarted U.S. nuclear plant.
- 66 tracked PPAs totaling 22.89 GW since 2013; solar (5.31 GW, 28 deals) and onshore wind (2.59 GW, 17 deals) dominate, with recent additions in geothermal (51 MW) and fusion (50 MW).
- Geographic concentration in Texas (8 deals) and PJM markets (Ohio, Virginia); international expansion includes Ireland, Spain, Japan, India, and Singapore.
Investment Timeline
Deal Breakdown
By Category
By Energy Type
Geographic Footprint
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All Deals
| Date | Deal | Capacity | Value | Category | |
|---|---|---|---|---|---|
| Dec 2025 | Microsoft – Iberdrola Spain 150 MW Wind PPAs (Iglesias + El Escudo) Iberdrola S.A. | 150 MW | — | PPA | |
| Nov 2025 | Microsoft – Zelestra Spain Solar PPAs (Aragón, 95.7 MWac) Zelestra (formerly X-Elio) | 96 MW | — | PPA | |
| Oct 2025 | Microsoft – Shizen Energy Japan Three Additional Solar VPPAs (75 MW, Kyushu + Chugoku) Shizen Energy Inc. | 75 MW | — | PPA | |
| Apr 2025 | Microsoft – Clearway Energy Mount Storm Wind Farm Repowering PPA (West Virginia) Clearway Energy Group | 335 MW | — | PPA | |
| Mar 2025 | Microsoft – AES MISO Three-Project Solar PPA (Michigan, Missouri, Illinois — 475 MW) AES Corporation | 475 MW | — | PPA | |
| Mar 2025 | Microsoft – Energia Group Ballylongford + Crossmore Wind Farm PPAs (Ireland 2025) Energia Group | 50 MW | — | PPA | |
| Feb 2025 | Microsoft – EDPR NA Wolf Run + Hickory + Cattlemen II Solar VPPAs (389 MW, USA) EDP Renewables North America LLC | 389 MW | — | PPA | |
| Dec 2024 | Microsoft – Matrix Renewables Stillhouse Solar Environmental Attribute Certificate Purchase (Texas) Matrix Renewables | 210 MW | — | PPA | |
| Sep 2024 | Microsoft – Constellation Energy Crane Clean Energy Center (Three Mile Island Restart) 20-Year PPA Constellation Energy Group | 835 MW | — | PPA | |
| Aug 2024 | Microsoft – EDP Renewables SolarNova 8 20-Year PPA (Singapore) EDP Renewables | 200 MW | — | PPA | |
| Aug 2024 | Microsoft – ReNew Power India 437.6 MW Green Attribute Contract ReNew Power | 438 MW | — | PPA | |
| Aug 2024 | Microsoft – Pivot Energy 500 MW Community Solar Framework Agreement (USA) Pivot Energy | 500 MW | — | PPA | |
| Jun 2024 | Microsoft – Repsol Spain 230 MW Wind + Solar VPPA Expansion Repsol S.A. | 230 MW | — | PPA | |
| Jun 2024 | Microsoft – European Energy Denmark and Sweden Wind + Solar Portfolio PPAs European Energy A/S | 181 MW | — | PPA | |
| May 2024 | Microsoft – RWE Peyton Creek II Wind PPA (Texas) RWE AG | 243 MW | — | PPA | |
| May 2024 | Microsoft – RWE Lane City Wind PPA (Texas) RWE AG | 203 MW | — | PPA | |
| May 2024 | Microsoft – SSE Renewables + FuturEnergy Ireland Lenalea Wind Farm CPPA (Ireland) SSE Renewables and FuturEnergy Ireland | 30 MW | — | PPA | |
| May 2024 | Microsoft – Brookfield Asset Management Global Renewable Energy Framework 10.5 GW PPA Brookfield Asset Management and Brookfield Renewable | 10.5 GW | — | PPA | |
| Mar 2024 | Microsoft – Leeward Renewable Energy Cradle Solar PPA (Texas) Leeward Renewable Energy | 200 MW | — | PPA | |
| Mar 2024 | Microsoft – Leeward Renewable Energy Morrow Lake Solar PPA (Texas) Leeward Renewable Energy | 200 MW | — | PPA |