The AES Corporation (NYSE: AES) today (May 4) announced a 20-year agreement with Microsoft to provide renewable energy to its data centers in California. The agreement expands upon prior renewable energy agreements between the two companies, with AES supporting Microsoft in its pursuit of its 100/100/0 by 2030 goal.
Microsoft, one of the world's largest purchasers of renewable energy, will use this highly customized agreement to partially match their load at their California-based data centers. AES will source the energy from a portfolio of 110 MW AC solar and 55 MW, 4-hour storage projects in the California Independent System Operator (CAISO) region.
"Working with Microsoft, we co-created a scalable 24/7 carbon-free solution to power its data centers in California."
"Microsoft continues to be a leader in the clean energy transition," said Andrés Gluski, AES President and CEO. "Working in tandem with Microsoft, we co-created a scalable 24/7 carbon-free solution to power its data centers in Virginia, and we are now proud to move forward on another innovative renewable energy supply structure in California."
"AES' presence and critical capabilities in California will support our transition to 100% renewable energy by 2025 and enable us to move forward in having 100% of our electricity matched by zero-carbon resources all the time in the state," said Brian Janous, General Manager Energy & Renewables at Microsoft. "We've looked to AES as a partner in PJM and now California based on its ability to create innovative commercial structures that meet our needs."
Through collaboration with its customers to help meet their unique energy commitments and outcomes, AES signed nearly 5 GW of new Power Purchase Agreements (PPAs) globally in 2021 and was ranked by BNEF as the top developer selling clean energy to corporations through PPAs.
About AES
The AES Corporation (NYSE: AES) is a Fortune 500 global energy company accelerating the future of energy. Together with our many stakeholders, we're improving lives by delivering the greener, smarter energy solutions the world needs. Our diverse workforce is committed to continuous innovation and operational excellence, while partnering with our customers on their strategic energy transitions and continuing to meet their energy needs today. For more information, visit AES here.
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Actual results could differ materially from those projected in our forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are discussed in AES' filings with the Securities and Exchange Commission (the "SEC"), including, but not limited to, the risks discussed under Item 1A: "Risk Factors" and Item 7: "Management's Discussion & Analysis" in AES' Annual Report on Form 10-K and in subsequent reports filed with the SEC. Readers are encouraged to read AES' filings to learn more about the risk factors associated with AES' business. AES undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except where required by law.
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