U.S. Investor Partners with Microsoft for Renewable Energy Projects

By Simon Jessop

LONDON (Reuters) – U.S. investor Acadia Infrastructure Capital, along with companies like Microsoft (NASDAQ:MSFT), is set to develop a $9 billion pipeline of renewable energy projects across the United States, according to the project lead's announcement to Reuters.

Acadia, with Microsoft as an anchor member, launched the Climate and Communities Investment Coalition (CCIC). Brian O'Callaghan, Vice President of Acadia, revealed that discussions are ongoing with firms in various sectors, including retail and consumer goods.

> "The CCIC's reason for being is to accelerate corporate-led renewable energy financing with real tangible benefits to local communities," O'Callaghan stated, implying the initiative aims to help develop about 5 gigawatts of renewable power over five years.

The benefits may include:
– Improved access to clean energy at lower prices for low- and middle-income households.
– Creating job opportunities for local residents.
– Supporting contractors with diverse ownership.

O'Callaghan emphasized that while declining costs make renewable energy appealing, the CCIC's role is crucial in expediting progress, as many companies need to meet their environmental targets and seek access to Renewable Energy Certificates (RECs) associated with the projects.

These RECs can be sold to companies aiming to enhance their power supply's sustainability or to offset emissions within their supply chains.

> "It's just about the pace of build-out. Renewable energy… will continue to expand without corporations. With corporations, the pace becomes exponential," O'Callaghan remarked, noting that corporate investment would attract additional dollars.

Acadia’s initial deal recently facilitated Matrix Renewables in securing financing for a 210-megawatt solar project, which is backed by Microsoft.

Danielle Decatur, Director of Environmental Justice at Microsoft, stated that the program enables the company to fulfill its goals "through high-quality renewable energy procurement."

Yinka Bode-George, CEO of the non-profit Sustain Our Future Foundation, which is involved in the initiative's social impact, added that it would "help deliver meaningful, lasting benefits to community stakeholders."