Microsoft signs two solar PPAs in Japan with Blueleaf Energy

Microsoft has signed two solar power purchase agreements in Japan with Blueleaf Energy, a portfolio company of Macquarie Asset Management. Capacity, contract length and locations were not disclosed; the projects are entering construction under a build-own-operate model and are due to start commercial operations in mid-2027, with Microsoft as sole offtaker.

• Blueleaf has a portfolio of around 1.2GW of solar projects in Japan
• The PPA projects are scheduled to start commercial operations in mid-2027
• Macquarie already has 540MW of PPA capacity with Microsoft in the UK, Spain and India
• In April Microsoft pledged $10bn in AI and cloud investment in Japan through 2029