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- Under the PPA, Sol Systems will take care of financing, developing, building, and operating the capacity.
- The portfolio represents the largest single renewables investment by Microsoft and will be installed in phases over the next several years.
- The electricity produced will be equivalent to the annual power consumption of more than 70,000 US homes.
Washington, D.C. — Sol Systems announced a groundbreaking initiative with Microsoft, Corp. that creates the first community investment fund and the company’s single largest renewable energy portfolio energy purchase agreement. Sol Systems and Microsoft designed the portfolio to maximize its positive environmental, community, and societal impact.
The strategic initiative will help Microsoft meet its goal of shifting to 100 percent renewable energy by 2025.
Sol Systems will finance, develop, and operate a portfolio of over 500 megawatts (MW) of solar projects in the U.S. and will sell energy from those projects to Microsoft. In parallel, working with local leaders in nearby communities and those disproportionately impacted by climate change, Sol Systems and Microsoft will invest at least $50 million for community-led grants and investments that support educational programs, job and career training, habitat restoration, and programs that support access to clean energy and energy efficiency
“This marks a groundbreaking commitment by Microsoft, Sol Systems, and our employees to invest in our communities and drive economic recovery,” said Sol Systems CEO and co-founder, Yuri Horwitz. “This is a unique approach to couple clean energy with community development and investment,” he added.
“We recognize that climate and environmental issues don’t impact every community the same way and we need to address environmental equity as a broader issue,” said Lucas Joppa, Chief Environmental Officer, Microsoft. “Our work with Sol Systems is a first-of-its-kind initiative tying the purchasing of renewable energy to environmental justice and equity in under-resourced communities. What makes this partnership unique is that we will be working with local leaders, prioritizing minority and women-owned businesses and making community-lead grants and investments.”
Delivery of the portfolio will be phased in over the next several years.
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