May 1 (Reuters) - Canada's Brookfield Asset Management ( BAM )

is set to develop new wind and solar farms with backing

from tech giant Microsoft ( MSFT ) in an attempt to bring 10.5

gigawatts of generating capacity online, the Financial Times

reported on Wednesday.

Microsoft ( MSFT ) expects its partnership with Brookfield to help

finance the creation of renewable electricity projects to be

built between 2026 and 2030, beginning in the U.S. and Europe,

according to the newspaper.

The deal underscores the race to meet clean energy

commitments while satisfying the voracious energy demand of

cloud computing and artificial intelligence.

The 10.5 gigawatts of new capacity would cost more than

$10 billion, the report said, based on recent industry trends.

Brookfield and Microsoft ( MSFT ) did not immediately respond to

a Reuters request for comment.