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Acadia Infrastructure Capital and Microsoft have joined forces to launch the Climate and Communities Investment Coalition (CCIC), with plans to develop $9 billion worth of clean energy projects in the United States. The coalition aims to accelerate corporate-led renewable energy financing and support the U.S. energy transition infrastructure.
Acadia, a clean energy investor, will lead the coalition with Microsoft as an anchor investor. Other companies from various sectors, including retail and consumer goods, are expected to join the coalition. The CCIC plans to install 5 gigawatts of renewable energy power over the next five years, providing tangible benefits to local communities.
The partnership comes as corporations, including Microsoft, are looking to reduce their carbon footprint and earn renewable energy certificates. With the growing demand for cloud services, tech giants like Microsoft are set to consume more electricity, making it crucial to create a greener energy supply.
Earlier this year, Microsoft signed a global framework agreement with Brookfield Asset Management to back renewable power projects worth $10 billion. This agreement will provide Microsoft with access to a pipeline of new renewable energy capacity to support its growing demand for cloud services.
The partnership between Acadia and Microsoft is a significant step towards achieving a greener and more sustainable future. It will not only accelerate the transition to clean energy but also provide tangible benefits to local communities. With the growing demand for renewable energy, this coalition is expected to have a significant impact on the U.S. energy sector.