Microsoft has signed a deal with Brookfield Asset Management to invest more than $10 billion to develop renewable energy capacity to help power data centers. The companies described the deal as the largest of its kind.

Brookfield Renewable is the perfect partner for Microsoft. Few companies can match its global scale and development capabilities. It has one of the world's largest operating portfolios with 33 GW of capacity across several technologies (hydro, wind, solar, and storage) and geographies (North and South America, Europe, and Asia Pacific).

Canada's Brookfield Asset Management and technology giant Microsoft will develop new wind and solar farms in an attempt to bring over 10.5 gigawatts of new renewable energy capacity, the companies said on Wednesday.