At a glance
- Microsoft will buy the entire output of both plants as sole offtaker, with Blueleaf owning and operating them under a build-own-operate model, Data Center Dynamics reported.
- For allocators underwriting Japanese solar, the deals lock both plants' entire output to one corporate buyer, a structure that can support construction finance without a utility intermediary.
- The firms have worked together since 2020.
Microsoft signed two solar power purchase agreements in Japan with Blueleaf Energy, Macquarie Asset Management's renewable platform, for projects entering construction.
Microsoft will buy the entire output of both plants as sole offtaker, with Blueleaf owning and operating them under a build-own-operate model, Data Center Dynamics reported.
For allocators underwriting Japanese solar, the deals lock both plants' entire output to one corporate buyer, a structure that can support construction finance without a utility intermediary. Capacity, contract length, location and price were not disclosed, so the contracts cannot be benchmarked against other Japanese corporate PPAs. A buyer of the platform would be exposed to one counterparty across both assets.
The contracts extend a Macquarie-Microsoft relationship covering 540MW of wind and solar in the UK, Spain and India, according to Macquarie. The firms have worked together since 2020.
Blueleaf holds roughly 1.2GW of solar projects in Japan at various stages of deployment, many including battery storage, according to the company.
Microsoft pledged in April to invest $10 billion in AI and cloud capacity in Japan through 2029, ESG Today reported.
Commercial operations at both plants are scheduled for mid-2027.
Reported by the Energy Transition desk from Data Center Dynamics and ESG Today. Published . Corrections