Polish energy giant Polenergia announced that one of its subsidiaries has signed a back-to-back agreement with a division of Canadian asset manager Brookfield. Under this deal, Polenergia will provide 100 MW of renewable energy projects in Poland to Microsoft Corp by 2026.
As part of the arrangement, a virtual power purchase agreement (vPPA) will be established with Microsoft, involving Polenergia group companies that are actively developing renewable energy projects.
This back-to-back agreement stems from Brookfield’s broader commitment to Microsoft under a renewable energy framework agreement (REFA). Polenergia noted on Thursday that Brookfield committed to deliver over 10.5 GW of renewable energy capacity to Microsoft between 2026 and 2030 across the US, Europe, and other regions, as first announced by Brookfield in May.
The REFA is designed to give Microsoft access to a steady pipeline of renewable energy to meet the increasing demand for its cloud services.
The agreement with Polenergia Obrot SA (POLO) aligns with the REFA’s timeline, remaining in effect until December 31, 2030, unless the REFA is terminated earlier. POLO also retains the option to exit the agreement after December 31, 2027.
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