This week, solar finance and development firm Sol Systems announced an initiative with Microsoft to finance, develop and operate a portfolio of over 500 MW of solar projects in the U.S. and will sell energy from those projects to Microsoft.
Sol Systems and Microsoft designed the portfolio to maximize its positive environmental, community and societal impact. The initiative will help Microsoft meet its goal of 100% renewable energy by 2025. Delivery of the portfolio will be phased in over the next several years.
Sol Systems and Microsoft will also invest at least $50 million for community-led grants and investments that support educational programs, job and career training, habitat restoration and programs that support access to clean energy and energy efficiency for communities disproportionately impacted by climate change.
“This marks a groundbreaking commitment by Microsoft, Sol Systems, and our employees to invest in our communities and drive economic recovery,” said Sol Systems CEO and co-founder, Yuri Horwitz.
“We recognize that climate and environmental issues don’t impact every community the same way and we need to address environmental equity as a broader issue,” said Lucas Joppa, Chief Environmental Officer, Microsoft.
“Our work with Sol Systems is a first-of-its-kind initiative tying the purchasing of renewable energy to environmental justice and equity in under-resourced communities. What makes this partnership unique is that we will be working with local leaders, prioritizing minority and women-owned businesses and making community-lead grants and investments,” Joppa added.