Microsoft Corp Signs PPA with Invenergy

Microsoft Corp. (NASDAQ: MSFT) has signed two 15-year long-term power purchase agreements this week. The Company is executing PPA’ s with renewable energy developer Invenergy and EDP Renewables.

Microsoft is set to buy power from the 74-megawatt  Wilkinson Solar Energy Center project.

The Wilkinson Solar Energy Center will be located in Beaufort County North Caroline. The solar project will be built, owned and operated by Invenergy. It is expected to create nearly 500 jobs during construction and generate nearly USD 20 Million in tax revenues for the county once commercial operations begin in 2019.

“Our work with companies like Invenergy is an integral step toward our goal of enabling a clean energy future for everyone. We are pleased our partnership will bring new solar resources to the PJM region,” said Brian Janous, Microsoft’s general manager of Energy and Sustainability in a joint statement with Invenergy.

This is Microsofts fourth power purchase agreement in the PJM Interconnection and the tech giant will be the sole buyer of energy from this project. Executing this deal means that Microsoft’s renewable energy portfolio will stand at more than 1.3 gigawatts.

“Invenergy is proud to work with leading corporate renewables customers like Microsoft to help them meet their operational and sustainability goals,” said Jim Shield, Invenergy’s EVP and chief commercial officer.

Microsoft also executed a 15-year power purchase agreement totaling 125 megawatts with EDP Renewables. The deal will bring the Timber Road IV Wind Farm to Ohio’s Paulding County.

EDP Renewable will bring Microsoft’s directly purchased renewable energy portfolio to nearly 1.4 gigawatts. Making Timber Road IV Wind Farm Microsoft’s fifth project in the larger PJM region.

The Wind Farm will be operational in 2019 and is expecting to produce enough clean electricity to annually power more than 36,000 average Ohio homes and approximately 200 full-time equivalent jobs during construction. The new wind farm will generate  USD 1.1 Million each year in annual property tax revenue for the local government as well as land lease payments to area farmers and landowners.

“We are constantly looking for opportunities where our corporate demand can not only be met but can also accelerate the transition to renewable sources. EDPR has done great work in Ohio, and we’re pleased to partner with them to grow this market,” said Brian Janous in a joint statement with EDP Renewables.

2 Comments
  1. John Wright 6 months ago
    Reply

    Microsoft $MSFT Holder Marvin & Palmer Associates Increased Position by $621,857 as Share Price Rose

  2. Dave Farber 6 months ago
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    Microsoft is another leader that’s showing bullish signs. A breakout above 115 on a weekly close would be very constructive. $MSFT $QQQ

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