Ontario Power Generation to sell clean energy credits to Microsoft

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Microsoft Corp. will procure clean energy credits from Ontario Power Generation’s carbon-free hydro and nuclear assets as part of a partnership announced on Monday. 

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The companies said the arrangement, a first of its kind for both organizations, will enable Microsoft to progress on its goal of having 100 per cent of its electricity consumption matched by zero-carbon energy purchases on a continuous basis by 2030. 

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OPG said revenue from the credits would be used to support investments in new clean generation in Ontario and help OPG progress toward its own commitment to achieving net zero as a company by 2040. 

“This innovative partnership will not only spur economic development in Ontario but also serve as a model for other companies and jurisdictions to encourage use of clean hydro and nuclear power,” OPG chief executive Ken Hartwick said. 

Earlier this year, the provincial government said it was developing a voluntary clean energy credit registry, which Ontario energy minister Todd Smith said will incentivize investments in new clean energy generation and technological innovation while reducing costs for ratepayers.