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Both Google and Microsoft have made fresh agreements to use renewable energy sources in their data centres, reducing the carbon impact of their IT operations.
In order to power its operations in the UK, Google has entered into a power purchase agreement (PPA) with the French utility company Engie for 100 MW of energy generated by the Moray West offshore wind farm.
Microsoft announced PPAs to supply its data centres in Ireland with more than 900 MW of renewable energy.
According to the report, Statkraft and Ireland's Energia Group are two companies that are associated with a mix of wind and solar projects, despite the fact that Microsoft did not reveal its renewable energy suppliers.
According to Google, the new agreements would help the business get closer to its goal of completely running its cloud regions and UK offices on carbon-free energy by 2030.
According to the company, it anticipates being completely or nearly carbon-free by 2025 due to the most recent PPA it signed with Engie.
According to Matt Brittin, president of Google EMEA, climate change is a subject that concerns people in the UK and Europe more and more.
According to the report, the action follows past agreements by both companies to purchase renewable energy in the US.
Microsoft recently signed a 20-year agreement with AES Corporation to supply its data centres in California with renewable energy from 110 MW solar and 55 MW four-hour storage projects, while SoftBank subsidiary SB Energy signed a deal with Google for 900MW of solar power to power a Texas data centre.
Microsoft has expanded its commitment to consuming less carbon and helping to find solutions for climate change, the report said, in in addition to expanding its data centres to fulfil customer demand.
Last Updated - 27 Oct 2022
The biggest IT business in the world that operates search engines, Alphot, had poor results, which has increased concerns about a slowdown. Media sources claim that the Google search advertising market has shrunk, which has caused a significant decline in the value of tech company shares. Alphabet's underwhelming performance has increased concerns about a slowdown in the rate of expansion of the American economy.
Only 6% more money was made by the business in the third quarter of 2022, reaching $69.1 billion. With the exception of the coronavirus epidemic, Alphabet's growth rate is at its lowest point since 2013. Although experts had expected a 9% growth rate, it has actually increased by only 6%. Microsoft has contributed to the growing anxiety in the tech industry, along with Google. The company's cloud division may experience the biggest downturn.
Alphabet and Microsoft's shares have dropped by six to seven percent as a result of underwhelming results. Alphabet CEO Sundar Pichai informs investors that the advertising sector is now experiencing a challenging time after announcing the results.
Science-related revenue on YouTube decreased by 2% to $7.1 billion. Analysts anticipated it would expand at a rate of 4.4%. Jobs are suffering as a result of poor performance from tech businesses, which has caused the company's ad sales to decline by the greatest amount ever. The employment process of businesses is now beginning to be impacted by how well they perform. According to Alphabet, it will reduce its hiring target by more than 50%. In such circumstances, layoffs may occur in a large number of organisations in the future.