A report published by the Oil Price website, which specializes in energy affairs, revealed that the growth of artificial intelligence will lead to an increase in demand for renewable energy globally.

Artificial intelligence is seeing increasing interest around the world. It is promoted as a means of achieving faster energy development. Skeptics point to the huge demand for electricity, and some companies active in wind, solar, and battery storage are showing interest in potential deals. These deals will provide it with a strong boost.

The French company Neoen, which finances, develops, and operates wind and solar facilities and battery storage arrays, is on the verge of being sold to Brookfield Asset Management.

Brookfield is making an offer worth about 6.1 billion euros for a 53.32% stake in Neoen, equivalent to about 6.6 billion dollars.

Brookfield operates in partnership with Singaporean company Temasek Holdings and is considered a savior for Neoen, which is suffering from financial problems.

The interest rate environment has not been kind to wind, solar, and storage developers over the past two years; many of them struggled to survive.

This deal comes at an appropriate time for Neoen, which reported an 8% decline in its revenues during the first quarter due to the entry into force of new power purchase agreements. It is estimated to help Brookfield achieve its goals of building 20 gigawatts of new capacity through 2030.

On the other hand, Brookfield and Microsoft have concluded a deal for 10.8 gigawatts of low-carbon electricity capacity.

Brookfield will deliver this electricity to Microsoft as part of the latter’s plans to save 100% of the electricity it uses.